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KS S-corps calculate the pass-through entity tax perfectly, but not the Partnership. Same form K120. When will the Partnership issue be fixed? KS farm returns are due 3/1/23
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This is holding up many tax returns at our firm. When can we expect this update?
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We are waiting on the update to fix the Kansas pass through credit and are unable to file our Partnership returns. This is creating a large back log in our firm. Please fix this.
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We are wondering the same thing! The S-Corps are working but not the Partnerships. Very frustrating!!! Really disappointed in Lacerte for the hold up!
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Thanks for bringing this issue to our attention. Our team is working to get it resolved on an update. If you need to file immediately, you can check the box on Screen 1 for "Multi-State Return?".
This workaround should allow the PTE to calculate on the K120 until the update is available.
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If the Kansas tax was paid in 2022 and deducted on the federal return, it should add it back on Ks K-120S. It works on S Corps, but is not adding it back on Partnerships.
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The KS PTE is not calculating correctly on partnerships, when a partner has a guaranteed payment, different from the other partner/partners. Lacerte is calculating equal percentages irregardless of the KS income allocated to each partner. I even went into Special Allocations KS to override, and it still won't change the K-9's. Very frustrating, as March 15 is nearly here.