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WV pass through entity tax credit
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tammie
Level 3
04-01-2024
10:45 AM
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This is my first experience with a K-1 where the S-corp elected to take the PTET option. I am preparing the 1040 and the WV non-resident tax return. The WV K-1 does not look any different than I normally see. The main difference is that the income taxable to WV is larger than the income on the federal K-1. Do I need to enter anything on the federal side for the client to get the credit or is the credit already built in therefore reducing the income reported on the federal side? Thank you for any help you can provide
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