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- Can a non-resident shareholder of an Ohio S-corp claim the PTE credit (Ohio Tax) on their federal return? If so, does it get entered on Schedule A and is it subject to the $10,000 cap under the TCJA?
Can a non-resident shareholder of an Ohio S-corp claim the PTE credit (Ohio Tax) on their federal return? If so, does it get entered on Schedule A and is it subject to the $10,000 cap under the TCJA?
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Linda M
Level 2
08-22-2023
09:44 AM
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sjrcpa
Level 15
08-22-2023
10:44 AM
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OH PTET paid in 2022 is a tax deduction on the 2022 S Corp federal return. Line 1 of the individual's K-1 will reflect that.
The more I know, the more I don't know.
