Intuit HelpIntuit
How to enter Arkansas PTE in Lacerte
by Intuit• Updated 1 month 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
- Go to Screen 20, Passthrough K-1's.
- 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.
- 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.
Partnership
To activate the PTE calculation:
- Go to Screen 37.351 Arkansas Miscellaneous Information.
- Check the Electing PET box to activate the calculations.
- Add a 1 to the AR362 Pass-Through Entity Election Form line.
- Make any additional adjustments as needed to screen 37.351
- Review the AR1100PET to review the calculations.
S-Corporation
- Go to Screen 42.351 Arkansas Miscellaneous Information.
- Check the Electing PET box to activate the calculations.
- Add a 1 to the AR362 Pass-Through Entity Election Form line.
- Make any additional adjustments as needed to screen 42.351
- Review the AR1100PET to review the calculations.
Sign in now for personalized help
Ask questions, get answers, and join our large community of Intuit Accountants users.
More like this
- How to enter Form 1098-T box 5 - scholarships in Lacerteby Intuit•697•Updated over 1 year ago
- How to enter a vacation home for Schedule E in Lacerteby Intuit•89•Updated July 31, 2024
- Entering Form 1099-PATR in Lacerteby Intuit•411•Updated 2 weeks ago
- PTIN requirements and verifying your PTINby Intuit•128•Updated June 12, 2024
- Entering information from Form 5498 in Lacerteby Intuit•1705•Updated March 06, 2024