How to enter Connecticut PTE in ProSeries

Down below we'll go over how to enter PTE for Connecticut on Individual, Partnership, and S Corporate returns in ProSeries.

For more PTE resources, check out our dedicated Tax topics page where you'll find a list of all PTE states and the respective content for each.

Table of contents:

Individual

1. Open the Connecticut state return.
2. Press F6 to bring up Open Forms.
3. Type PE to highlight the CT-PE and select OK to open it.
4. Scroll down to Part 1 - Computation of Pass-Thru Entity Tax Credit.
5. Enter the FEIN from the K-1 and the amount of credit.

Back to Table of Contents

Partnership

Form CT-1065/CT-1120SI

Starting in tax year 2024 every passthrough entity that does business in Connecticut or has income derived from or connected with sources within Connecticut must file Form CT-1065/CT-1120SI regardless of the amount of it's income (loss). ProSeries will generate this form automatically.

If you elect to file the CT-PET:

Starting in tax year 2024 the CT-PET is only applicable if you elect to file it. To generate the CT-PET:

1. Open the Federal 1065 return to the Partnership Information Worksheet.
2. Scroll down to Part VI - Electronic Filing Information.
3. In the Choose Returns to be Filed Electronically table check the Connecticut PET checkbox for Original Return.
   • This will trigger the CT-PET election to be checked on the state return.
4. Click the ST button and select Connecticut Partnership.
5. Make any adjustments as needed to the CT-PET.

For Partnership returns, the pass-through entity tax calculation will show on the CT-PET page 2 line 2.

Each Partners share of the tax will show on the CT K-1 Page 2, Part 3 - Connecticut PE Tax Credit Information.

Back to Table of Contents

S Corporation

Form CT-1065/CT-1120SI

Starting in tax year 2024 every passthrough entity that does business in Connecticut or has income derived from or connected with sources within Connecticut must file Form CT-1065/CT-1120SI regardless of the amount of it's income (loss). ProSeries will generate this form automatically.

If you elect to file the CT-PET:

Starting in tax year 2024 the CT-PET is only applicable if you elect to file it. To generate the CT-PET:

1. Open the Federal 1120S return to the S Corporation Information Worksheet.
2. Scroll down to Part VI - Electronic Filing Information.
3. In the Choose Returns to be Filed Electronically table check the Connecticut PET checkbox for Original Return.
   • This will trigger the CT-PET election to be checked on the state return.
4. Click the ST button and select Connecticut S Corporation.
5. Make any adjustments as needed to the CT-PET.

For S corporation returns, the pass-through entity tax calculation will show on the CT-PET page 2 line 2.

Each Shareholder's share of the tax will show on the CT K-1 Page 2, Part 3 - Connecticut PE Tax Credit Information.

Back to Table of Contents

Common questions for tax year 2024

What happens if Estimated Tax Payments were made in tax year 2023?

Last year, estimated payments were required to be filed with Form CT-1065/CT-1120SI however, this year, estimates are only required for the CT-PET. 

• For Form CT-1065/CT-1120SI filers:
  • The composite return no longer requires estimates, nor is the underpayment penalty applicable to the form. 
  • If you made estimated payments last year, and will not be filing the CT-PET form this year, the estimated payments will apply to the composite return.
• For CT-PET filers: The underpayment penalty does still apply to the CT-PET.
  • If they are filing the CT-PET, the program will apply any estimates first to the tax due with the CT-PET. 
  • If an overpayment exists, the user can choose to apply that overpayment to the next year's CT-PET taxes, to this year's composite return, or get a refund. 
  • The codes for these choices are in the estimates input section, where the estimates made last year are entered.

Back to Table of Contents

How will extensions work for tax year 2024?

• The CT-1065/CT-1120SI and CT-PET each have their own extension form.
• CT did provide an additional month for calendar year filers for TY24. See the announcement here.

Back to Table of Contents

To view information for tax year 2023 and prior see click on the below section: