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How to enter Oklahoma PTE in ProSeries

SOLVEDby IntuitUpdated April 05, 2023

This article will help you report the Oklahoma 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 a 1041 return:

To claim the credit on an individual return:

For resident returns:

  1. Open the Oklahoma state return.
  2. Press F6 to bring up Open Forms.
  3. Type AI and click OK to open the Form Schedules A-I for Form 511.
  4. Scroll down to Oklahoma Subtractions.
  5. Complete the Electing PTE Information table below line 14.

For nonresident returns:

  1. Open the Oklahoma state return.
  2. Press F6 to bring up Open Forms.
  3. Type Sc and click OK to open the Schedules A-H for Form 511NR.
  4. Scroll down to Oklahoma Additions.
  5. Complete the Electing PTE Information table below line 6.

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To generate the PTE for a partnership:

  1. Open the Oklahoma Partnership Information Worksheet
  2. Check the box indicating your election status:
    • If you've already filed the election check the This taxpayer is an electing pass-through entity box to activate the PTE calculations on the return.
    • If you need to file the election check the Form 586 Electing being made with this return. If this box is checked PTE will not calculate on the return.
  3. The PTE tax will show on Form 514 p1 line 2b.
  4. The Net Oklahoma Distributive Income (Loss) will show on the K-1 above line 1.

If the partnership is a member of another PTE:

  1. Open the Oklahoma Partnership Information Worksheet
  2. Under Part II - Tax Year Information check the Entity is a member of an electing PTE box.
  3. QuickZoom to the Electing PTE statement.
  4. Complete the statement by entering any amounts of the Federal and Oklahoma Income/Loss that should be excluded from the PTE calculations.

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To generate PTE for an S corporation:

  1. Open the Oklahoma S Corporation Information Worksheet
  2. Under Part II - Tax Year Information check the Entity is a member of an electing PTE box.
  3. Check the box indicating your election status:
    • If you've already filed the election check the This taxpayer is an electing pass-through entity box to activate the PTE calculations on the return.
    • If you need to file the election check the Form 586 Electing being made with this return. If this box is checked PTE will not calculate on the return.
  4. QuickZoom to the Electing PTE statement.
  5. Complete the statement by entering any amounts of the Federal and Oklahoma Income/Loss that should be excluded from the PTE calculations.
  6. The PTE tax will show on Form 512-S p1 line 2b.
  7. The Net Oklahoma Distributive Income (Loss) will show on the K-1 above line 1.

If the S-Corporation is a member of another PTE:

  1. Open the Oklahoma S Corporation Information Worksheet
  2. Under Part II - Tax Year Information check the Entity is a member of an electing PTE box.
  3. QuickZoom to the Electing PTE statement.
  4. Complete the statement by entering any amounts of the Federal and Oklahoma Income/Loss that should be excluded from the PTE calculations.

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To claim the credit on a 1041 return:

If the partnership is a member of another PTE:

  1. Open the Oklahoma Fiduciary Information Worksheet
  2. Under Part II - Tax Year Information check the Entity is a member of an electing PTE box.
  3. QuickZoom to the Electing PTE statement.
  4. Complete the statement by entering any amounts of the Federal and Oklahoma Income/Loss that should be excluded from the PTE calculations.

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