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Level 2
posted Feb 12, 2022 2:25:51 PM

California Pass-Through Entity Tax (PTE),

Will Turbotax be able to handle the  California Pass-Through Entity Tax (PTE)  aka California Assembly Bill 150?

Specifically, will it calculate how much I am eligible to apply on my 2021 CA tax return; the carry-over; the amount I can apply toward 2022; and California AMT?

 

Thank you

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1 Replies
Expert Alumni
Feb 16, 2022 7:10:04 PM

Form 3804, Pass-Through Entity Elective Tax Calculation, is currently available in TurboTax Business for use with qualifying entities.  This form is filed at the entity level and the pro-rated credit is then reported to the partner, member, or shareholder via the applicable K-1 form.

 

For more information on the CA PTE see Pass-through entity (PTE) elective tax.