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How to enter Michigan PTE in ProSeries

SOLVEDby Intuit2Updated 1 year ago

This article will help you report the Michigan elective flow-through entity tax (sometimes called pass-through entity tax, PTE, PTET, or SALT workaround) and the resulting credit in ProSeries.

Table of contents:

To claim the credit on the 1040 return:
To adjust the business return for FTE

To claim the credit on an individual return:

  1. Open the Michigan state return.
  2. Open the Form MI-1040.
  3. Enter this taxpayers portion of the FTE on line 29. Credit for allocated share of tax paid by an electing flow-through entity.

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To generate the FTE for the business return:

  1. Open the Michigan Business return.
  2. Open the Form 4891
  3. Scroll down to the Smart Worksheet, Flow-Through Gross Receipts above line 10b.
  4. Complete the table to adjust the return in ProSeries.
  5. Complete and File Form 5772 through Michigan Treasury Online (MTO).
  6. See here for additional FAQ's from Michigan.

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