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Level 2
posted Feb 9, 2022 11:43:35 AM

New York Pass-Through Entity Tax (PTET) Annual Return

Does Turbo Tax business support New York Pass-Through Entity Tax (PTET) Annual Return for an S corporation?  I downloaded New York State S Corporation, but I don't see PTET forms.

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2 Replies
Expert Alumni
Feb 9, 2022 1:23:24 PM

No, TurboTax Business does not support the PTET for New York.  This form is actually filed by the owner(s) of an S-Corp in New York online directly with the state.

 

See Pass-through entity tax (PTET) for information and guidance on how to do this.

Level 2
Feb 9, 2022 1:29:39 PM

It says: "On or before March 15, an electing entity must file an annual PTET return."  So my understanding is the electing entity (i.e., S corporation), not the owner(s), should fie the PTET return.  The electing entity (i.e., S corporation) made the election earlier, not the owner(s).