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How to enter Rhode Island PTE in ProSeries
by Intuit• Updated 6 months ago
This article will help you report the Rhode Island 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 generate PTE on a 1041. |
Before you start:
- ProSeries doesn't support electronic filing of the Rhode Island Forms RI-PTE
- To determine if your client is eligible, the instruction booklets for Pass-through Entity Election.
To claim the credit on an individual return:
- Open the Rhode Island return.
- Open Schedule W.
- Press F6 to bring up Open Forms.
- Type W to highlight RI Sch W.
- Click OK to open the Schedule W.
- In column B select RI-1099PT to generate code P.
- Complete the remainder of the columns based on the information from 1099PT form.
- If you are e-filing the return you'll need to attach the 1099PT as a PDF attachment using Type: Other. See How do I attach PDF files to federal or state electronic filing for details.
To generate PTE for a partnership:
- Open the Rhode Island Partnership Information Worksheet.
- Scroll down to Part III - Tax Year and Filing Information
- Check the Yes box for Is partnership an electing PTE?
- Review the calculations on the RI-PTE and the RI-1099E for each partner.
To generate PTE for an S corporation:
- Open the Rhode Island S Corporation Information Worksheet.
- Scroll down to Part III - Tax Year and Filing Information.
- Check the Yes box for Is S-corporation an electing PTE?
- Review the calculations on the RI-PTE and the RI-1099E for each shareholder.
To generate PTE for an Fiduciary:
- Open the Rhode Island Fiduciary Information Worksheet.
- Scroll down to Part III - Tax Year and Filing Informaiton
- Check the Yes box for Is taxpayer an electing PTE?
- Review the calculations on the RI-PTE and the RI-1099E for each beneficiary.