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How to enter Virginia PTE in Lacerte
by Intuit•3• Updated 5 months ago
Table of contents:
Down below we'll go over how to enter PTE for Virginia on Individual, Partnership, and S Corporate returns in Lacerte.
Individual
- Go to Screen 53.171, Virginia Credits.
- Under the Virginia Schedule CR section towards the bottom of the screen, under the Pass Through Entity Elective Tax Payment Credit subsection, enter the amount from the K-1 in the Total credits allows this year field.
- This amount flows to page 5, part VI of Schedule CR.
Partnership
The Form 502PTET must be e-filed. Select Virginia for e-filing on the Client Information screen, otherwise critical diagnostic ref. 58072 will be triggered.
- Go to Screen 37.171 Virginia Miscellaneous.
- Under the Virginia Miscellaneous Information section, in the Form 502PTET subsection, check the Certify eligibility and election to pay VA income tax at entity level for the taxable year (MANDATORY) box.
Additional checkboxes and entries may be needed in this section, depending on your client needs.
S Corporation
The Form 502PTET must be e-filed. Select Virginia for e-filing on the Client Information screen, otherwise critical diagnostic ref. 58117 will be triggered.
- Go to Screen 42.171, Virginia Miscellaneous.
- Under the Virginia Miscellaneous Information section, in the Form 502PTET subsection towards the bottom, check the Certify eligibility and election to pay VA income tax at entity level for the taxable year (MANDATORY) box.
Additional checkboxes and entries may be needed in this section, depending on your client needs.