North Carolina estimated taxes and S corp

[jturner119]

Where and how in turbo tax does it handle the situation of both individual and S corp making estimated taxes in 2022? I paid 3 quarters of estimated taxes and my S corp paid the whole year. I expect to get a refund of  the estimated tax I paid, but don't get that with the info I have entered.

Thanks for any advice.

[NCperson]

@jturner119 on the NC return, what is on Line 21a? that should be the estimated taxes paid.  Does it match your records? do you recognize this number? 

if it doesn't match your records, then did you enter all the estimated payments into Turbo Tax? 

[jturner119]

Yes on line 21a the amount matches the estimated tax I individually paid in 2020 and matches the 3 quarters I paid the estimated tax. Since my S corp company also paid the year of estimated taxes for all shareholders, including me, I think I should get a refund from NC.  I assume amount this is Part A line 8 from my NC K-1( state tax deducted by an S Corp) which I did enter into turbo tax.

Thanks for your help

[NCperson]

@jturner119 please reconfirm the line number and which K-1 (look in the upper left corner for the full form number).  I do not see the withholdings on Line 8. 

[jturner119]

It is the NC K-1 (39) supplemental schedule  2022 owner or Beneficiary's Share of NC  Additions and Deductions. It is about the same amount as on line 2 of the NC k-1 CD401S Shareholder's Share of NC Income, Adjustments and Credits. 

I was thinking the closet place to put the amount by my S corp (taxPTE) was on line 21d of NCD400, but the instructions say this is non residents for tax paid by S corp.

[jturner119]

Called NC department of Rev. They said enter amount in NCD400 21d. I tried this but TT will not accept the number. How do you directly enter into the NC d400 form inTurbo tax?

[NCperson]

@jturner119 -

go to the FEDERAL Partnership K-1

look for the "Box 13" section of the K-1

then look for the "code W - Other Deduction" subsection.

On Line 5 is 'state income tax withheld": list the state and the amount of the withholding.  It should flow to the NC form.  

[Nataliya1]

This does not work.  Federal K-1, Box 13, Code W is now reserved for "W- Clean electricity production credit".   Please provide a different solution.