Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

CA PTE Tax for S Corp

ptax255
Level 7

Hi, basic question but if S corp paid $1000 CA PTE tax by June 15th 2022, and is paying the remainder ($11K) on 3/15/23, should I enter $12K on the federal tax return as state income tax deduction? This is the first year of PTE election.

0 Cheers
1 Comment 1
abctax55
Level 15

The $ 1000 PAID in 2022 is all that is deductible in 2022.  The $ 11000 will be deductible when paid, in 2023.   Even for accrual tax returns.   

HumanKind... Be Both