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Level 2
February 14, 2022
Question

Il Pass Through Entity Tax

  • February 14, 2022
  • 2 replies
  • 0 views

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?

 

2 replies

Level 15
February 14, 2022

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)

 

jsnapAuthor
Level 2
February 14, 2022

Thanks.  Appreciate the insight.

Level 15
February 14, 2022

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.