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How to enter Idaho PTE in Lacerte

SOLVEDby Intuit4Updated April 17, 2023

Down below we'll go over how to report the Idaho 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
Fiduciary

Individual

  1. Go to Screen 54.151, Idaho Taxes
  2. Under Other Idaho Taxes enter the amounts on the Tax paid by affected business entity (ABE) line.
    • For resident returns this will flow to Form 40 line 48.
    • For nonresident returns this will flow to Form 43 line 68.

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Partnership

To activate the PTE calculation for entities that already have an election on file:

  1. Lacerte will automatically calculate the PTE-12 with the correct Filing Code based on the data entered for the partners. See the flow chart here from Idaho to review the Filing Codes.
  2. To adjust the code or enter an exemption go to Screen 32.1 and make adjustments in the Idaho Information section.

If you need to file the election Form ABE go to screen 37.151 Idaho Miscellaneous Information and complete the Affected Business Entity Election section.

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S-Corporation

  1. Lacerte will automatically calculate the PTE-12 with the correct Filing Code based on the data entered for the shareholders. See the flow chart here from Idaho to review the Filing Codes.
  2. To adjust the code or enter an exemption go to Screen 46.151 Idaho Shareholder Overrides and make adjustments in the Miscellaneous Information section.

If you need to file the election Form ABE go to screen 42.151 Idaho Miscellaneous Information and complete the Affected Business Entity Election section.

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Fiduciary

  1. Lacerte will automatically calculate the PTE-12 with the correct Filing Code based on the data entered for the beneficiaries. See the flow chart here from Idaho to review the Filing Codes.
  2. To adjust the code or enter an exemption go to Screen 43.151 Idaho Beneficiary Overrides and make adjustments in the Miscellaneous section.

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