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How to enter Illinois PTE tax in ProSeries

SOLVEDby Intuit12Updated March 16, 2023

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 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 claim the credit on an individual return:

  1. Open the Illinois Schedule K-1-P.
  2. Scroll down to the Step 7 portion of the form.
  3. Enter the amount in line 53a, Pass-through Entity Tax Credit.

The credit will flow to form IL-1040, Step 8.

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To generate PTE for a partnership:

  1. Open the Form IL-1065 p1.
  2. In Step 1, check box I Check this box if you elected to file and pay Pass-through Entity (PTE) Tax.
  3. Review the PTE Worksheet to the return and completed based on your IL-1065 entries.

The result of the PTE Worksheet will print on form IL-1065, step 8, line 60. The credit for each partner will also flow to Schedule B, column J, and be reported on their respective Sch K-1-P.

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To generate PTE for an S corporation:

  1. Open the Form IL-1120-ST.
  2. In Step 1, check box L, Check this box if you elected to file and pay Pass-through Entity Tax.
  3. Review the PTE Worksheet to the return and completed based on your IL-1120-S entries.

The result of the PTE Worksheet will print on form IL-1120-S, step 8, line 60. The credit for each shareholder will also flow to Schedule B, column J, and be reported on their respective Sch K-1-P.

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