Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Federal input screens

Screen GBCGen - Forms 6478, 6765, 8820, 8881 Additional Information (1120)

Overview

If this corporation is a member of a controlled group, you must enter an amount in the
GBC limitation
 field on Ctrl and Ctrl-2 screens to calculate various general business credit forms properly.

Form 6478 - Biofuels Producer Credit

If you are claiming a cellulosic biofuel producer credit, you must be registered with the IRS. A critical diagnostic message prints if you are claiming this credit and have not entered the IRS registration number in this field.

Form 6765 - Credit for Increasing Research Activities

If you mark this field, the amount on Form 6765, Section A is multiplied by 13 percent instead of 20 percent if Section A is completed. Or, if Section B is completed, the amount on Form 6765, Section B is multiplied by 65 percent. If this field is marked, the application does not reduce Other deductions on Form 1120 or 1120-S by the current-year credit.
For a C Corporation, if this field is marked, the Credit for increasing research activities (Form 6765) is reported on Form 3800, Page 3, Line 4i. Leave this field blank to have the credit reported on Form 3800, Page 3, Line 1c.
For an S Corporation, if this field is marked, a statement attached to Schedule K-1, Line 17, Code AD will print indicating the corporation qualifies as an eligible small business. Leave this field blank to print a statement that the corporation is not an eligible small business.

Form 8881 -
Small Employer Pension Plan

Select from the view the year of the plan to calculate the applicable percentage of the pension plan.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close