How to enter Illinois PTE tax in ProConnect Tax
by Intuit• Updated 5 months ago
This article will help you report the Illinois elective pass-through entity tax (sometimes called PTE, PTET, or SALT workaround) and the resulting credit in ProConnect Tax.
To claim the credit on an individual return:
- On the left-side menu, select Income.
- Click on Passthrough K-1's.
- Select the Partnership Info or S-Corp Info screen.
- Click on the State & Local section along the top of the input.
- In the State Adjustments and Credits grid, enter the following:
- Screen the credit applies to;
- Input code IL308;
- and the Amount shown on the K-1-P.
- You must also complete the Illinois Schedule K-1-P {IL} sections of this screen if not done already.
All sections of the input marked with {IL} are used to recreate an electronic copy of the state K-1 you received. They don't impact the tax return.
The credit will flow to form IL-1040, Step 8.
To generate the PTE for a partnership:
- On the left-side menu, select State & Local.
- Click on Miscellaneous Information.
- Select the IL Miscellaneous Information screen.
- Scroll down to the Pass-through Entity Tax (PTE) section.
- Check the box for Electing to file and pay Pass-through Entity Tax.
The program will calculate the PTE Income Worksheet and print the result on form IL-1065, step 8, line 60. The credit for each partner will also flow to Schedule B, page 2, and be reported on their respective Sch K-1-P.
To generate the PTE for an S corporation:
- On the left-side menu, select State & Local.
- Click on Income & Deductions.
- Select the IL Adjustments-Part 1A screen.
- Scroll down to the Pass-through Entity Tax (PTE) section.
- Check the box for Electing to file and pay Pass-through Entity Tax.
The program will calculate the PTE Income Worksheet and print the result on form IL-1120, step 8, line 60. The credit for each partner will also flow to Schedule B, page 2, and be reported on their respective Sch K-1-P.
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