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Screen MOCr - Missouri Miscellaneous Credits (1040)

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Overview

You need to attach supporting documentation to Form MO-TC when you claim these credits. Refer to Form MO-TC instructions for the applicable schedules, certificates, and federal forms(s) to attach.

Nonrefundable Credits

Affordable housing assistance / ... / SALT parity
Use the statement window attached to these fields to enter the current-year credit and any credit carryovers for each credit. If a carryover amount wasn't proforma'd, enter the amount for the year the credit was earned. UltraTax CS calculates the amount used based on the tax liability amount.
Other miscellaneous credits
Enter the code, description, and amount for miscellaneous credits. UltraTax CS treats these credits as non-refundable. Enter code
R
 in the first column to treat the credit as refundable. To proforma a carryover amount to next year, enter the amount in the
Next year carryover
 column.

Refundable Credits

Use the statement window attached to these fields to enter the current-year credit.

Application of Credits

Use the statement in this section to adjust the order that the nonrefundable credits are used.

S Corporation Income from Non-Taxed Jurisdiction

Missouri allows resident taxpayers a nonrefundable tax credit for their share of S Corporation income that wasn't taxed in the nonresident state. This information will be reported on MO-CR, Schedule 1, and is also used to calculate a nonrefundable resident credit on line 31 of MO-1040.
Income earned from an S corporation in a non-taxed jurisdiction
Description - Name and FEIN of S Corporation. The description isn't reported anywhere on the return or in the electronic file. Instead, Missouri requires supporting documentation to be included with the return, including the federal K-1 and detailed statement(s).
Taxpayer Amount / Spouse Amount - List each state(s) income on a separate line.
State - Enter the two-digit postal code for each state.
Required attachment:
 Missouri requires supporting documentation, including the federal K-1 and a statement detailing the calculation of income. When you file electronically, go to Edit, then Electronic Filing Attachments, and select
MO-CR Sch 1 - Non-taxed S Corp support
 from the predefined list when you attach the PDF.

Recapture Credits

Amounts entered here will be reported on MO-1040 as Other taxes.
Recapture low income housing credit
Use these fields to change the recapture amount to a different amount than what's being claimed on the federal return.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual
  • State: Missouri

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