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Screen LACr - Louisiana Miscellaneous Credits (1040)

Overview

Use this screen to complete Louisiana Schedules C, F, I, and J.

Nonrefundable Credits

Use this section to complete Form IT-540, Resident Schedules and Form IT-540B, Nonresident Schedules.
Use these fields to indicate if the taxpayer and/or spouse have a disability. Items coded as
B
 (Blind) in federal screen entries automatically transfer to these fields. Disability options are listed in the fieldview.
Use the statement window to identify dependent disabilities. The options are listed in the fieldview.
Enter the value of computer equipment donated to educational institutions in this field. Be sure to enter the full value. UltraTax CS automatically calculates the credit.
Federal credits are calculated automatically from information entered in the federal screens. These credits appear in the statement window. The credit is automatically calculated and limited. These calculated amounts may be overridden on an item-by-item basis.
Louisiana has various other credits available to taxpayers. Select the credit code and enter the amounts in the statement window. Data entered in the
Credit Used
2023
 column will be reflected on the current year return. These amounts display on Form IT-540, Resident Schedules C and J; and Form IT-540B, Nonresident Schedules C-NR and J-NR. Data entered in the
Credit Earned
2023
,
Carryover
2022
,
Credit Used
2023
, and
Carryover Expired
2023
 columns will be used to calculate carryover amounts for Schedule J/J-NR credits. Enter the LDR State Certification Numbers from Form R-6135 for transferable credits claimed on Schedule J/J-NR lines 12 through 15.
Enter an amount different than the calculated amount of the prorated federal child care credit for part-year residents only. UltraTax CS automatically calculates the prorated credit using qualifying child care expenses with LA as the postal code.
Enter an amount different than the calculated amount of the prior-year child care credit carryforward.
UltraTax CS automatically proformas these amounts from the prior year School Readiness Credit Worksheet. Use these fields to enter amounts different than the calculated amounts.

Refundable Credits

Use this section to complete Form IT-540, Resident Schedules F and I; and Form IT-540B, Nonresident Schedules F-NR and I-NR.
Enter an amount different than the calculated amount for taxpayer’s earned income on the Refundable Child Care Credit Worksheet.
Enter an amount different than the calculated amount for spouse’s earned income on the Refundable Child Care Credit Worksheet.
Enter the number of qualified dependents for each rating category. The numbers are used in the computation of the School Readiness Credit Worksheet.
Enter relevant information and amounts paid for the credit on Form IT-540 Resident Schedule F and Form IT-540B, Nonresident Schedule F-NR.
Enter the insurance assessment and the relevant information for the credit on Form IT-540, Page 2; and Form IT-540B.
Louisiana has various other refundable credits available to taxpayers. Select the credit code and enter the amount of the credit in this statement window. These amounts display on Form IT-540, Resident Schedules F and I; and Form IT-540B, Nonresident Schedules F-NR and I-NR. Enter the LDR State Certification Numbers from Form R-6135 for credits claimed on lines 2 through 6 that are recorded in the Tax Credit Registry.

Optional Deduction

Use this section to complete Form IT-540.
Enter
X
 to move the foreign tax credit from the Federal credit statement window on Louisiana Schedule C/C-NR to the Federal tax liability line on Louisiana Form IT-540 or Form IT-540B. Calculation of this optional deduction is shown on the Louisiana Individual Tax Worksheets.
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