Technical topics regarding tax preparation.
27-Mar-2020 12:03pm
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Where is it stated that C corporations are not eligible to claim the credit? Thanks!
27-Mar-2020 12:24pm
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27-Mar-2020 12:29pm
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I heard that C corps could not claim it but maybe I heard wrong.
27-Mar-2020 1:36pm
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Maybe whoever you "heard" that from saw this and misunderstood it.
Partnerships and S corporations must file this form to claim the credit. All other taxpayers are not required to complete or file this form if their only source for this credit is a partnership or S corporation. Instead, they can report this credit directly on line 1y in Part III of Form 3800, General Business Credit.
If I wanted to be sure, I'd read section 30D.
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