The current iteration of the new NYS PTET worksheets for S corps is not pulling the charitable contributions from Federal Schedule K line 12a.
Everything else from lines 1-11 is flowing properly.
I chatted with a live support rep who said that the only input entry that flows to the NY PTET worksheet line 12 is the Federal entry for other Sch K deductions line 12d (K-1 codes L thru ZZ)
This issue affects the outgoing NY shareholder summary, which draws from the PTET worksheet unless overridden.
Per "NYS resident S corporation PTET worksheet" instructions - https://www.tax.ny.gov/e-services/ptet/calculations.htm
Lines 1 through 12—Enter the sum of the amounts reported on federal Form 1120S, Schedule K-1 of each eligible shareholder or member and enter the total for all shareholders or members on these lines.
Per "NYS frequently asked questions about the pass-through entity tax (PTET)" - https://www.tax.ny.gov/bus/ptet/faq.htm
An entity has business income and separately stated items, such as charitable contributions, retirement contributions, and health insurance premiums. Are the separately stated items treated as "other deductions" on the PTE taxable income worksheets?
PTE taxable income includes all income, gain, loss, or deduction of an electing entity that flows through to and is taxable to a direct partner, member, or shareholder for New York personal income tax purposes. The amount entered on the Other deductions line of the PTE taxable income worksheet is the sum of the amounts reported as Other deductions on federal Schedule K-1, as applicable for each column.
“Other deductions” are reductions of PTE taxable income. Therefore, the amount entered on line 12 (for resident S corporations and standard S corporations) or line 13 (for partnerships) of the PTE taxable income worksheets should be entered as a negative number.
