ProConnect HelpIntuit HelpIntuit

How to enter Georgia PTE in Lacerte

by Intuit• Updated 1 month ago

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

The election may only be made by a Partnership or S-Corporation that is 100 percent directly owned and controlled by “persons” eligible to be shareholders of an S-Corporation under § 1361 of the Internal Revenue Code of 1986, as amended. Single-member LLCs not taxed as a Partnership or S-Corporation are not eligible to make the election. “Persons” can include certain estates and grantor trusts.

Table of contents:

‣ Individual
‣ Partnership
‣ S-Corporation

Individual

  1. Go to Screen 52.201, Georgia Miscellaneous.
  2. In the section that matches the type of modification you'd like to make, enter the amount in the following field:
    • Georgia Additions ⮕ PTE Owners: Addition to share of entity's allocable loss, using Description "PTEADD."
      • Flows to Sch 1, Additions to Income - Line 5.
    • Georgia Subtractions ⮕ PTE Owners: Addition to share of entity's allocable income, using Description "PTEDED."
      • Flows to Sch 1, Subtractions to Income - Line 12.

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

Partnership

  1. Go to Screen 37.201, Elect to pay at entity level.
  2. Under the Georgia Miscellaneous section, check the box for Elect to pay at entity level.
    • This will generate PV CORP with the tax paid. Partners will see this on page 2 of the Ptr. Summary, including instructions on how to report it as a subtraction on their Individual GA return.

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

S-Corporation

  1. Go to Screen 42.201, Elect to pay at entity level.
  2. Under the Georgia Miscellaneous section, check the box for Elect to pay at entity level.
    • This will generate PV CORP with the tax paid. Shareholders will see this on page 2 of the S/H Summary, including instructions on how to report it as a subtraction on their Individual GA return.

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

Lacerte Tax

Sign in now for personalized help

Ask questions, get answers, and join our large community of Intuit Accountants users.

Dynamic AdsDynamic Ads