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Iowa k-1 withholding
The amortization from a depreciation schedule is flowing to the Iowa K-1 as Iowa withholding . The amortization is a deduction. It cannot be Iowa withholding. The return that I am working on is showing $39,014 of Iowa withholding on Line 1 of supplemental information on the Iowa Schedule K-1.
This is a flaw in the tax program and needs to be fixed. The Case Number is 1598668967.
There is no way the beneficiary can get a tax refund of $39,014 when filing its return since there was never any Iowa withholding paid in to the State of Iowa.
