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- Proforma Improvement - New Jersey PTE Overpayment Applied to Next Year
Proforma Improvement - New Jersey PTE Overpayment Applied to Next Year
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02-08-2024
01:13 PM
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The Partnership & S Corporate New Jersey Pass-Through Business Alternative Income Tax Calculation allows you to credit your PTE overpayment to the next tax year.
New! Beginning in ProConnect Tax 2022, these amounts will proforma to the next tax year eliminating the need to manually track and enter.
Partnership:
Amounts will transfer to State and Local > Estimates > New Jersey Estimates, in the field Overpayment applied from 20XX.
S Corporate:
Amounts will transfer to Payments, Penalties & Extensions > Estimated Tax > Other State and Local, within the section for 20XX New Jersey Pass-Through Entity Estimates (PTE-150), in the field for Overpayment applied from 20XX .
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