Ohio Form 4708 and IT K-1

[twgrevel]

It appears that the "Amount of PTE tax credit" for each partner on Ohio Form 4708 is calculated based on the Federal profit/loss percentages. The issue is that the Ohio adjustments may not necessarily be the same percentage as the Federal allocation percentage. On Ohio Form IT K-1, Line 2a is based on the Federal allocation. For Line 2c there is an option to specially allocate the Ohio depreciation, which is helpful. Line 2d is the sum of these items, which the software sums correctly. However, 2d by the tax rate should equal the amount on Line 3 for Direct pass-through entity credit. The software instead is calculating Line 3 for each partner based on the total tax by their respective Federal profit/loss percentages. Please add a special allocation for Line 3 as this will be needed whenever a special allocation of 2c occurs. Or just force the software to calculate Line 3 by taking 2d for each partner by the tax rate. I appreciate your consideration for this change.

[IntuitGabi]

This is now "open for voting".

We found a workaround to specially allocate the credit you're mentioning by going to Schedule K-1 > Schedule K-1 Miscellaneous, and entering the desired PTE credit amount for each partner in “Ohio credits [Override].