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How to enter Mississippi PTE in ProSeries
by Intuit• Updated 4 months ago
This article will help you report the Mississippi elective pass-through entity tax (sometimes called PTE, PTET, or SALT workaround) and the resulting credit in ProSeries.
Table of contents:
To claim the credit on an individual return:
- Open the Mississippi state return.
- Press F6 to bring up Open Forms.
- Type 161 and click OK to open the Form 80-161.
- In the table enter the information from the Schedule K-1's.
To generate the PTE for a partnership:
- Open the Mississippi Partnership Information Worksheet.
- Scroll down to Part III - Tax Year Information
- Check the Annual Voluntary Election - PTE is electing to pay tax at the entity level pursuant to H.B. 1691l box.
- Review the Form 84-105.
To generate PTE for an S corporation:
- Open the Mississippi S Corporation Information Worksheet.
- Scroll down to Part III - Tax Year Information
- Check the Annual Voluntary Election - PTE is electing to pay tax at the entity level pursuant to H.B. 1691l box.
- Review the Form 84-105.
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