[OregonGuy]

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We had a tax professional complete our 2024 1120-H and have a question about line 12.

Last year we paid $550 in Federal taxes and when I got our taxes back, that amount shows on our 2024 1120-H line 12 as a deductions. I’m wondering if this is correct. I’m under the impression that federal income taxes paid the previous year cannot be claimed as a deduction on form 1120-h line 12.

Help please….

[nancydavis830@gmail.com]

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It should not be a deduction on your Federal 1120-H return.

[Author]

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