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Federal input screens

Screen GBC-1 - Forms 3800, 5884, 6478 (1120)

Overview

Screens GBC-1, GBC-2, GBC-3, GBC-4, GBC-5, and GBC-6 are available in the Farm, Farm Rental, and Rent & Royalty folders and are activity-based screens. For miscellaneous non-activity related credit data entry, the screens are also part of the Credits folder.
Enter the passive credit carryovers on the PALCr or PALCrESB screens in the appropriate activity folder.

General Business and Other Credits (C Corp)

For all of the credits in this section, calculate the credit using either the noncalculating credit form or other paper forms, then enter the credit you have calculated in the current-year credit fields provided in this screen.

Form 5884 - Work Opportunity Credit

Salaries and wages are automatically reduced on Page 1 of the tax return by the Form 5884 current year credit. If you want the wage reduction from the credit to be allocated to Cost of labor on Form 1125-A, or to Officer's compensation, enter either a percentage
or
 an amount of the credit you want to allocate. If data is not entered in the percentage or amount fields, or if the entire reduction for the Form 5884 credit is not used, the reduction for the Form 5884 credit is allocated to salaries and wages on Page 1 of the tax return.

Form 6478 - Biofuel Producer Credit

Other income is reduced on the main return by the Form 6478 current-year credit excluding any credit amounts from pass-through entities.
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