topic Il Pass Through Entity Tax in State tax filing

Il Pass Through Entity Tax

jsnap — Mon, 14 Feb 2022 15:28:18 GMT

In preparing a 2021 return with the new Pass Through Entity Tax election, I do not see where Turbo Tax is allocating the credit for the payment to any of the Illinois residents. Is that something I am going to have to override to get onto their IL K-1?

Re: Il Pass Through Entity Tax

Anonymous_ — Mon, 14 Feb 2022 15:50:10 GMT

You might have to use Forms Mode for this situation.

You also might want to contact Support.

What is the TurboTax phone number? (intuit.com)

Re: Il Pass Through Entity Tax

jsnap — Mon, 14 Feb 2022 21:46:02 GMT

Thanks. Appreciate the insight.

Re: Il Pass Through Entity Tax

Mike9241 — Mon, 14 Feb 2022 21:56:55 GMT

in interview mode when you go to the state section there should b an Illinois k-1 for the entity. click on edit. then scroll down to line 53 for ptsp to enter the pass-thru credit.

you actually need to enter on the IL k-1 all info that appears on the IL- k-1 that you actually got.