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Illinois PTE Tax Import

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Illinois PTE Tax Import

Golf007

ILK-1P line 53a is not importing to the individual return input from the S Corp program.

When the PTE Tax Credit is manually entered into the individual, screen 20, the corresponding credit is not appearing on line 28 of Form 1040.

Status: New
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2 Comments
Ed - Chicagoland
Returning Member

Lacerte did not push through the IL PTE credit to the Individual Module to either the K-1-P field for the K-1-P efile copy or to the IL-1040 line 28. To get the credit to go to Form IL-1040 line 28, you have to manually enter in screen 53 on the last input box for Pass-through entity tax credit. Would have been nice if Lacerte would have pushed this information down to the 1040. 

The same thing is also happening in the Partnership module. Lacerte did not push the IL PTE credit down in either spot. 

Golf007
Level 2

I agree.  It would be nice to have this handled automatically and is a seemingly reasonable expectation as a user of "premium" software.

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