Tal10 Posted January 31, 2023 Report Share Posted January 31, 2023 Hello. Well lots of clients claiming the ERC. Since this is a federal wage credit, and the reduction to the wage deduction is not required for Wisconsin, how does this affect Schedule 5M? Of course ordinary income is reduced on line 2, but is there also supposed to be a corresponding increase to the Other Adjustments account? If not, doesn't this pose a big problem with the potential for distributions in excess of the Wisconsin stock basis? I'm running myself in circles. Quote Link to comment Share on other sites More sharing options...
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