PTIN Seal

Small Business Services

  1. PTINdirectory
  2. Tax Knowledge Database
  3. Small Business Services
  4. Can I take advantage of my current year's unused general business credit ?

Can I take advantage of my current year's unused general business credit ?

When the general business credit exceeds the limitation in the current year, the excess or unused credit may be carried back 1 year and forward 20 years. Speak to your local CPA about carrying back a unused credit and filing an amended IRS, Form 1040X to claim the current year's unused credit.

Need Professional Help?

If you need help with "Small Business Services" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.