Il Pass Through Entity Tax

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?

397

Level 15

Feb 14, 2022 7:49:41 AM

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)

Returning Member

Feb 14, 2022 1:46:02 PM

Thanks. Appreciate the insight.

Level 15

Feb 14, 2022 1:56:55 PM

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.

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Il Pass Through Entity Tax