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How does one prepare a 1040 and accurately report the SALT taken from a PTE in Proconnect?

Janene
Level 2
I took a the State Income Tax on the 1120S and now I cannot figure out how to report that on the owner's 1040. Help!
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2 Comments 2
abctax55
Level 15

The credit for the state taxes paid by the entity goes on the State return, as a payment.

(edit.... my comment applies to California.   Rick points out other states do it differently.)

HumanKind... Be Both
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rbynaker
Level 13

It might help if you say which state.

There are generally two approaches, some states give a credit for the tax paid at the PTE level, other states exclude the income already taxed at the PTE level.  Either way *something* should probably flow through on a state-K1, where that gets entered I have no idea (and likely it depends on the state).