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Level 1
September 10, 2020
Question

Multi State Corp 1120s expense allocations

  • September 10, 2020
  • 1 reply
  • 5 views

I am able to allocate Income (Gross receipts or sales) to the various states BUT I cannot expand the input for expenses (Deductions) so I can allocate to the various states. What have I done wrong?

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1 reply

sjrcpa
Level 15
September 10, 2020

Most states don't allow allocation. You have to apportion - using sales, property and payroll. More and more states just use sales now.

The more I know the more I don’t know.