Screen MICredit - Michigan Nonrefundable Credits (1040)

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Overview

Use this screen to complete Form MI-1040, Page 1.

Small Business Investment Tax Credit

Use this section to complete the Small Business Investment tax credit on Form MI-1040, Page 1.
Small Business Investment tax credit
Use the statement dialog attached to this field to enter the eligible contribution amount and tax credit stated on the certificate received from the Michigan State Housing Development Authority. The certificate must be attached to the return.

Resident Credit for Tax Imposed by Canadian Province

Use this section to complete Form 777.
US adjustment to Canadian wage (Force)
Enter an amount to use for the adjustment to Canadian wages if you choose not to use the calculated amount. UltraTax CS calculates the U.S. adjustment from the total of the adjustments to income.
Canadian portion of foreign tax credit from Form 1116 (Force)
If a federal Form 1116 is calculated to determine credit on Canadian income, enter an amount to use for the Canadian portion of Foreign Tax Credit Form 1116, if you choose not to use the calculated amount. UltraTax CS calculates the Canadian portion of Foreign Tax Credit from a ratio of the total of the Canadian income, entered with name of country as Canada, reported on Form(s) 1116 to total income reported on Form(s) 1116 times the Form(s) 1116 credit amount.
Canadian income taxed by Michigan from Form 1116 (Force)
If a federal Form 1116 is calculated to determine credit on Canadian income, enter an amount to use for the Canadian income taxed by Michigan from all Form(s) 1116, if you choose not to use the calculated amount. UltraTax CS calculates the Canadian income taxed by Michigan from all Form(s) 1116 from the total of the Canadian income entered with name of country as Canada reported on Form(s) 1116.
Gross Canadian income from Form 1116 (Force)
If a federal Form 1116 is calculated to determine credit on Canadian income, enter an amount for the total Canadian income from all Form(s) 1116, if you choose not to use the calculated amount. UltraTax CS calculates the total Canadian income from all Form(s) 1116 from the total of the Canadian income entered with name of country as Canada reported on Form(s) 1116.

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