Where do I incorporate my California Form 3804, which is for Pass-through entity (PTE) elective tax? It is new this year and I can't find it in TurboTax. Thanks!

[abackholm]

Thanks, this is useful. A remaining issue for me is that the value entered on form 568 line 15f gets evenly divided to the members (I have two), whereas form 3804 allocates them based on distributive share, as it should. That makes values on members' K-1s incorrect. Is the resolution here just to manually adjust the line 15f's on the members' K-1s?

[rms21]

Perfect. Thank you! 

[andrew MI6]

@DaveF1006 Where do I enter my pass-through entity (PTE) elective tax this year (2024 Tax year)? I'm using TT Online Premier. Last year there was a box, 13f, clearly labeled, in which to enter it. I cannot find it anywhere and the TT help AI within TT online is no help.

[TaxCat1]

Check if there is an info box at the top where there is a checkbox to activate these forms.  It looks different in every version of TT.  I have the desktop version and it's usually in the info/intro pages at the top or beginning.  It's easier to be in Forms view to see where the checkboxes are.

[PatriciaV]

You can enter this PTET Credit under California >> Income and Adjustments >> Partnership K-1 >> [Partnership Name] >> Credits >> 15f-Form 3804-CR Pass-Through Entity Elective Tax Credit. 

@Andrew-meiman 

@TaxCat1 

[andrew0071]

Dave,

I started participating in AB150 in yr 2022.  I had a credit balance $11.3K in 2022 and on form 3804-CR, it reflects that amount on line that states "Credit Carryover to Future Years".  However, it did not transfer over to yr 2023.  Why is this and what can I do to correct?  

As a side note, for yr 2023's credit balance, it accurately transferred to my 2024 tax return.

Please advise.