Can a non-resident shareholder of an Ohio S-corp claim the PTE credit (Ohio Tax) on their federal return? If so, does it get entered on Schedule A and is it subject to the $10,000 cap under the TCJA?

Linda M · ‎08-22-2023

sjrcpa · ‎08-22-2023

OH PTET paid in 2022 is a tax deduction on the 2022 S Corp federal return. Line 1 of the individual's K-1 will reflect that.

The more I know the more I don’t know.