Where do I deduct separately stated expenses (Section 179, charitable contributions, investment expenses etc.) on the s-corporation Form 600S?
• Since these items may be subject to further limitations, they are not deducted in the calculation of Georgia net income of the s-corporation. The portion of these expenses that are attributable to Georgia, that have not been included in the s-corporation’s Georgia net income and that have been allowed on the taxpayer’s Federal tax return, can also be subtracted on the shareholder’s Georgia return.
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