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posted Apr 18, 2023 6:16:32 PM

How to report PTE pmts for S-Corp in CA on S Corp Shareholders K-1

Hello,

 

How do you report payments made to CA for the Pass-through Entity (PTE) credit for S Corp Shareholders on a K-1? 

I am using TurboTax Business 2022 to prepare Income tax returns (Federal and State) for an S-Corp.  Lacking any direction, I created an account to collect payments in QuickBooks in Other Expenses.  How to map the transfer of data to Turbo Tax is not clear to me.

And looking at the Forms in Turbo Tax, I haven't identified where it should be reflected on the K-1's. There is no code for line 17 that is assigned to PTE.  I've tried looking at it from both sides, but can't find anything in Turbo Tax Business.

 

Help!

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1 Replies
Employee Tax Expert
May 22, 2023 11:27:07 AM

Look for form 3804-CR on your CA tax return. 

 

Here are FTB instructions for the form.