I have a K-1 from my LLC S Corporation that has a value for "Taxed Pass-Through Entity Income (New for 2022)" since I paid state taxes via my LLC this year. I've entered this into Turbotax for my NC K-1 for "Share of North Carolina Taxable Income, if the amount is greater than zero", but when I look at the forms that Turbotax generates, that value is not getting filled out on line 38 of D400 Sch S (Page 2).
I do see another area outside of the K-1 called "Other Business Deductions From Income" and has a field for "Taxed Pass-Through Entity Income (New for 2022)" but it says "Do NOT enter Taxed Pass-Through Entity (PTE) Income from a North Carolina partnership, S corporation or fiduciary returns here. North Carolina PTE income can be found on your NC K-1 Supplemental Schedule, line 38, Taxed Pass-Through Entity Income and should be entered in the K-1 section."
Regardless, as a test, I added the value from my K-1 into that field, and when I inspect line 38 of D400 Sch S, it has the value I entered. But I'm hesitant to leave this since Turbotax said very explicitly that I should not enter the Taxed PTE this way.
Is this an issue with Turbotax, or am I misunderstanding something?
