Where to input the 2021 PTE payment for S corporations (California)

Forum|Forum|4 years ago
January 28, 2022
2 replies
14 views

Where is the best place to enter the 2021 PTE payment amount, for S corporations, so they show up as a deduction for Fed but not State?

I am thinking that the best place to enter it would be input screen 15 "Ordinary Deductions" on the line State Tax, but others at my firm feel that line should be designated for only the tax expense for the entity, not the PTE.

Any feedback would be appreciated.

Lacerte Tax

This topic has been closed for replies.

George4Tacks

Level 15

I do not believe the program is ready for prime time yet. Maybe in next week's update. Similar discussion over at https://proconnect.intuit.com/community/lacerte-tax-discussions/discussion/ca-ab150-where-to-post-payments-made-before-12-31-21/00/190792

Answers are easy. Questions are hard!

T

tahlstrom

Level 2

The payment is calculated automatically by checking the box in Screen 42 Miscellaneous. There is also a box in Screen 48 Taxes if you made a prepayment.

D

DiamondAuthor

Level 2

I have done that, but neither of those flow to a deduction on the Federal Form.

T

tahlstrom

Level 2

If your client prepaid the state tax then I bet it's a manual input to state tax on deductions and a manual input to the M-1 Schedule, at least for now. Out of curiosity, are you showing this as an S distribution?

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