California Pass-Through Entity Tax (PTE),

[michaelruns26.2]

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

[AliciaP1]

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.