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Problem with Massachusetts Schedule CMS
Hello, I'm a long time TurboTax user and I'm trying to complete my 2021 Massachusetts State Tax Return. This year I received a PTE Tax Credit on Form SK-1 via a MA S Corp that I have an ownership interest in. To claim the credit and apply it against my 2021 MA tax liability I need to fill out Section 3 of Schedule CMS. The problem is that when I get to Box 3b I am need to enter the credit type as "ELTCRD" but TurboTax does not include this as an option. I can enter ELTCRD into Section 4, but this is the wrong section since I want to use the credit to reduce my current year tax liabilty and according to my understanding of the Schedule CMS Instructions I need to put the amount into Section 3. How do I solve this?
‎September 13, 2022
5:47 PM