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Level 2
posted Mar 26, 2024 11:22:47 AM

NC specific question regarding CD-429 PTE

My small business is a taxed s-corp. Business made quarterly estimated payments to NC in 2023 per the rule that the s-corp could pay the personal tax liability incurred from net profits of the s-corp that flow to my personal taxes. I do not understand where on my PERSONAL taxes to account for those payments made in order to reflect that a large portion of the NC state tax due on the personal taxes has already been paid. 

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1 Replies
Expert Alumni
Mar 26, 2024 12:46:11 PM

I believe what you mean is the S Corporation pays estimated taxes in to your personal tax account with North Carolina, under your social security number. 

 

If so, you would enter your state estimated taxes paid in the federal section of TurboTax by going to the Deductions and Credits section where you will find Estimates and Other Taxes paid, then start or update the Estimates option. Under Estimated Tax Payments, start or update the State Estimated Taxes for 2023 option and you will see a screen where you can enter your state estimated taxes by quarter: