LarryKalkstein,

Thank you for your feedback regarding the NY PTET.  Let me try to walk you through how you can input information into the software for the IT-204 and CT-3-S. Hopefully this can help you move forward in the near term.  

On the IT-204, NY instructions for the IT-204 on page 10, it informs the taxpayer, " ....enter the total amount of the PTET and code 653" on lines 144a thru 144f of page 9 on the IT-204.  

By entering the info on these lines in the software, the PTET credit should be allocated to the partners % or specially allocated if desired. 

On the CT-3-S, NY does not provide a code to allocate the credit.  The instructions simply say, "The s corporation must provide to each shareholder a statement indicating the shareholder's pro rata share of PTET taxable income and direct share of PTET credit to be claimed by the shareholder" (I am paraphrasing a bit)

Currently, the user can use the supplemental info worksheet provided on the NY Schedule K-1 for each shareholder to report PTET income and PTET credit for each shareholder.  This will generate a supplement statement for the K-1 based on your entries.  The Supplemental Info Smart Worksheet is at the bottom of the NY K-1 under line 111 in the software.  

We take your feedback seriously and I plan to reach out to customer care and improve the communication to our customers regarding the PTET.  Additionally, I also recognize that entering the PTET info for each shareholder in the s corporation product may be painful for our users.  We will investigate solutions to solve this potential pain point for users.