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CA PTE Credit limitation
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ADuffyCPA
Level 1
03-13-2022
03:55 PM
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I have clients who are taking the CA PTE and on their personal return when I enter in the credit into the K-1 input, it populates correctly on the form, but is being limited to tentative minimum tax on the SCH. P. My understanding is that the law changed 2/9/22 to allow this credit to be used against tentative minimum tax and should be fully allowable (to the extent there is a tax to offset).
Is anyone else running into this issue?
TIA
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