Question
Do you record the deposit from Employee Retention Credit on Page 1 line 7c
My client received a refund check for the Employee Retention Credit. I DB Cash and CR contra wages account. When I enter the refund on Page 1 line 7c it automatically creates a book/tax adjustment on M1. I do not have a book tax difference. My balance sheet is also out of balance by this amount. Do I have to enter the ERC refund on Pg 1 line 7c or can I just enter net wages on line 8?
