
How to enter Maryland PTE tax in Lacerte
by Intuit•4• Updated 4 weeks ago
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.
This article will help you report the elective pass-through entity tax (sometimes called PTE, PTET, PET, or SALT workaround) and the resulting credit.
Starting in tax year 2023:
To claim the credit on an Individual return:
- Go to Screen 20, Passthrough K-1s.
- Select the Partnership or S-Corporation K-1 that reported a credit.
- Scroll down to the Maryland Pass-through Entity Member's Information section.
- Complete the relevant PTE fields under the Nonresident/Entity Election section.
- Go to Screen 53.271, Maryland Individual Credits
- In the Maryland Credits section, enter PTE Tax paid on resident members' distributative/pro rata share of income
To generate the PTE for a Partnership:
- Go to Screen 37.271, Maryland Miscellaneous Information.
- Check the box PTE has made the irrevocable election for Tax Year 2024 to remit tax with respect to all member's shares to generate Form 511.
- For any partner-specific overrides, go to Screen 32.1, Partner Miscellaneous Info and complete the related fields under the Maryland Miscellaneous section.
- For additional inputs at the Maryland Schedule K level, go to Screen 38.271, Maryland Schedule K for the following:
- Distributive or pro rata share of income (Pass-through entity taxable income, if 511) [O]
- Non-Maryland income (separate accounting)
- Overpayment applied from 2023 (Form 511)
- Overpayment applied to next year (Form 511)
To generate the PTE for an S-Corporation:
- Go to Screen 42.271, Maryland Miscellaneous.
- Check the box PTE has made the irrevocable election for Tax Year 2024 to remit tax with respect to all member's shares to generate Form 511.
- Complete the following fields where relevant:
- Total distributive or pro rata share of income (Form 510 line 2) [O]
- Non-Maryland income (line 3a)
- For any shareholder-specific overrides, go to Screen 46.271, Maryland Shareholder Overrides and complete the related fields under the Nonresident Tax Withheld section.
To generate the PTE for a Fiduciary:
- Go to Screen 57.271, Maryland Other Credits.
- From the Sections list, select Tax paid by an electing PTE.
- Enter the Pro rata or distributable amount of PTE tax paid by electing PTE. This amount will flow to Form 504CR.
- Go to Screen 58.271, Maryland Taxes.
- Enter the Nonresident tax paid by pass-through entities (Ctrl+E).
- If needed, Trust amount of PTE [O] may be used to override the calculated amount of PTE withholding for the fiduciary.