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Understanding and generating New York Form IT-2658/CT-2658 in ProConnect Tax

by Intuit• Updated 11 months ago

Below are solutions to frequently asked questions about the following New York forms:

Form IT-2658, Report of Estimated Tax for Nonresident Individual Partners and Shareholders
Form CT-2658, Report of Estimated Tax for Corporate Partners
Form IT-2658-E for Shareholders

Refer to the Instructions for Form IT-2658 or the Instructions for Form CT-2658 for more information.

How do I generate Form IT-2658?

Select the applicable tax type below for instructions.

Partnership

Go to Input Return ⮕ Partner Information.
Scroll down to the Miscellaneous Info section.
Set the Type of Entity to Individual.
- Partnerships generate Form CT-2658 for Corporate partners.

S-Corporate

Go to Input Return ⮕ Shareholder Information.
Scroll down to the New York Information section.
Set the Entity Status to Individual.

If the IT-2658-E is activated the IT-2658 won't generate.

How do I generate Form IT-2658-E for the Certificate of Exemption?

Select the applicable tax type below for instructions.

Partnership

Go to Input Return ⮕ Schedule K-1 ⮕ Schedule K-1 Miscellaneous
Scroll down to the New York Information section.
Check the box for Print IT-2658-E or CT-2658-E for partner box for each partner that is eligible for the exemption.

S-Corporate

Go to Input Return ⮕ State & Local ⮕ Schedule K-1
Select NY Schedule K-1 Overrides.
Scroll down to the 2024 Nonresident Individual Shareholders Only (IT-2658) section.
Check the box for Print IT-2658-E for shareholder.

How do I generate Form CT-2658?

Select the applicable tax type below for instructions.

Partnership

Go to Input Return ⮕ Partner Information
Scroll down to the Miscellaneous Info section.
Set the Type of Entity to Corporation.

S-Corporate

Go to Input Return ⮕ Shareholder Information
Scroll down to the New York Information section.
Set the Entity Status to Corporation.

Why isn't Form IT-2658 generating for a New York resident?

The Resident State must be set to some other state. For shareholders, NY Residency Status should be set to NY State nonresident.

Form IT-2658 won't generate for exempt shareholders/partners. Persons whose estimated tax is less than $300 are automatically considered exempt. Others may be marked Exempt from Withholding by checking that box on the Partner Information or Shareholder Information sections.

How do I suppress Form IT-2658?

Partnership

Go to Input Return ⮕ State & Local ⮕ Miscellaneous Information
Select New York Miscellaneous Information.
Scroll down to the Form IT-2658 / CT-2658 subsection.
Mark the checkbox labeled Suppress.

S-Corporate

Go to Input Return ⮕ State & Local ⮕ Miscellaneous Information
Select New York Miscellaneous Information.
Mark the checkbox labeled Suppress Form IT-2658.

How do I force the entire estimated amount to be paid with the first quarterly voucher?

Select the applicable module below for instructions.

Partnership

Go to Input Return ⮕ State & Local ⮕ Miscellaneous Information
Select New York Miscellaneous Information.
Scroll down to the Form IT-2658 / CT-2658 subsection.
Mark the checkbox labeled Pay all estimates with first quarter voucher.

S-Corporate

Go to Input Return ⮕ State & Local ⮕ Miscellaneous Information
Select New York Miscellaneous Information.
Mark the checkbox labeled Pay all estimates with first quarter voucher (Form IT-2658).

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