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How to enter Mississippi PTE in ProSeries

SOLVEDby IntuitUpdated 1 year 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 the 1040 return:
To generate PTE on a 1065:
To generate PTE on a 1120S:

To claim the credit on an individual return:

  1. Open the Mississippi state return.
  2. Press F6 to bring up Open Forms.
  3. Type 161 and click OK to open the Form 80-161.
  4. In the table enter the information from the Schedule K-1's.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

To generate the PTE for a partnership:

  1. Open the Mississippi Partnership Information Worksheet.
  2. Scroll down to Part III - Tax Year Information
  3. Check the Annual Voluntary Election - PTE is electing to pay tax at the entity level pursuant to H.B. 1691l box.
  4. Review the Form 84-105.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

To generate PTE for an S corporation:

  1. Open the Mississippi S Corporation Information Worksheet.
  2. Scroll down to Part III - Tax Year Information
  3. Check the Annual Voluntary Election - PTE is electing to pay tax at the entity level pursuant to H.B. 1691l box.
  4. Review the Form 84-105.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

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