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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- Can an ACCRUAL S-Corp deduct the PTE elective tax paid in 2022 on their 2021 tax return?
Can an ACCRUAL S-Corp deduct the PTE elective tax paid in 2022 on their 2021 tax return?
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ricklang99
Level 3
02-18-2022
11:48 AM
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Can an ACCRUAL S-Corp deduct the PTE elective tax paid in 2022 (prior to March 15 2022) on their 2021 tax return?
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abctax55
Level 15
02-18-2022
12:07 PM
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The 2 hour webinar I took yesterday (side bar... I CAN NOT believe I am again doing CPE during filing season...) was relatively emphatic that it isn't deductible until the year PAID. So if not paid by 12.31.21, no deduction in 2021.
But stay tuned, as this whole issue is still in flux. Extend, extend, extend.
HumanKind... Be Both
