ERC Changes Credits Used in a Subsequent Year
View More DetailsAmending a client's 1040 for ERC that their S-Corp received for 2020.
The 1040 had unused Form 3800 credits that were used in 2022. With the ERC, the credits are now all being used on the amended 2020 1040.
What to do? Lower the credits available on the 2020 amended to account for what was used in 2022? Or amend 2020 with all of the credits and then go back and amend 2022 to remove the credits used on the amended return?
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