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How to enter Idaho PTE in ProConnect Tax

SOLVEDby IntuitUpdated 1 year ago

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 ProConnect Tax.

Table of contents:

Individual
Partnership
S-Corporation
Fiduciary

Individual

  1. From the Input Return tab, go to State & Local ID Taxes.
  2. Under the Other Idaho Taxes section, enter the amounts in the Tax paid by affected business entity (ABE) field.
    • Residents: This amount flows to Form 40, line 48.
    • Nonresident: This amount flows 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. ProConnect Tax 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 Schedule K-1 Schedule K-1 Miscellaneous and make your adjustments in the Idaho Information section.

If you need to file the election Form ABE, go to State & Local Miscellaneous Information ID Miscellaneous Information and complete the Affected Business Entity Election subsection.

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S-Corporation

  1. ProConnect Tax 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 State & Local Schedule K-1 ID Shareholder Overrides and on the respective shareholder tab, make your adjustments in the Miscellaneous Informations section.

If you need to file the election Form ABE, go to State & Local Miscellaneous ID Miscellaneous 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 Sch. K-1 Schedule K-1 Overrides / Misc. Idaho and make your adjustments in the Miscellaneous section.

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