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How to enter Arkansas PTE in Lacerte

SOLVEDby Intuit2Updated 1 year ago

Down below we'll go over how to report the Arkansas elective pass-through entity tax (sometimes called PTE, PTET, or SALT workaround) and the resulting credit in Lacerte.

Table of contents:

Individual
Partnership
S-Corporation

Individual

  1. Go to Screen 20, Passthrough K-1's.
  2. Under Share of Current Year Income (Loss) section enter the amount on the PTE Adjustment {AR} line. Positive amounts flow to the state as a Addition to income, negative amounts flow to the state as a Subtraction to income.
  3. This will flow to the Form AR-OI as an adjustment.
    • Income amounts show on line 14 as a Subtraction from income.
    • Loss amounts flow to line 7 as an addition to income.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

Partnership

To activate the PTE calculation:

  1. Go to Screen 37.351 Arkansas Miscellaneous Information.
  2. Check the Electing PET box to activate the calculations.
  3. Add a 1 to the AR362 Pass-Through Entity Election Form line.
  4. Make any additional adjustments as needed to screen 37.351
  5. Review the AR1100PET to review the calculations.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

S-Corporation

  1. Go to Screen 42.351 Arkansas Miscellaneous Information.
  2. Check the Electing PET box to activate the calculations.
  3. Add a 1 to the AR362 Pass-Through Entity Election Form line.
  4. Make any additional adjustments as needed to screen 42.351
  5. Review the AR1100PET to review the calculations.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

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