New
C Corporation State Tax-Exempt Interest Income
The C Corporation module, the specific issue is state non-taxable interest income. (As in US Treasury Bills). I entered the proper amount in the income screen on the row labeled state state-exempt interest, but the program did not exclude this income from its calculation of CA taxable income. This is exactly the opposite from the individual module. Apparently, the C Corporation module also requires you to enter the non-taxable income to the state on another screen (47?). This makes the first entry for non-taxable income to the state redundant. Even worse, it allows for a false sense of the proper preparation of the return.
I lost 4 hours yesterday because of this situation. I expect more from a program.
