Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- Re: OH IT-4738 PTE tax not reducing federal income
OH IT-4738 PTE tax not reducing federal income
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
lorizcpa
Level 2
09-15-2023
11:40 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
From what I understand, the OH IT-4738, PTE Tax would be paid at the entity level and therefore reduce federal income. When I choose the IT-4738 in Lacerte, it doesn't change the federal income at all from when I had the IT-4708 (NRWH). I checked to "accrue state tax option 1". Is there something that needs checked somewhere else, or am I misunderstanding the tax?
Labels
2 Comments 2
sjrcpa
Level 15
09-15-2023
10:06 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Did they pay any OH tax during 2023?
Are they cash basis or accrual for tax purposes?
The more I know, the more I don't know.
lorizcpa
Level 2
09-26-2023
02:31 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
They are accrual.
They did not pay any estimates.
