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Level 3
April 1, 2024
Question

reconcile federal and state difference from pass though entities

  • April 1, 2024
  • 1 reply
  • 8 views

I see the informational diagnostic as above.  Is it important to reconcile?  I know somethings in information diagnostics are sometimes crucial but not always.

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    1 reply

    Level 10
    April 1, 2024

    There are basis difference between Federal and states. Form 7203 will give you an idea of the importance of reconciling.

    ayaAuthor
    Level 3
    April 2, 2024

    I see the difference and I enter the different amount in Federal income and State income.  OK I will follow the instruction and see if that's important Thanks