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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- CA PTE tax not reducing TMT
CA PTE tax not reducing TMT
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Martc
Level 1
03-30-2022
02:23 PM
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Taxpayer has a PTE credit from an S-corp K-1. On the individual return the credit is assigned code 242 but is populating on Schedule P under Section A (credits that reduce excess tax) rather than Section B (credits that reduce tax below TMT). Is the solution to override these sections and paper file the state return?
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