Oregon Pass Through Entity (PTE) - What to do with Additional Forms

Forum|Forum|3 years ago
April 11, 2023
1 reply
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Hi,

My wife received her regular K-1 1120S and since her small business (Oregon) elected to do PTE for 2022 she also received some PTE forms in the tax package (OR-K-1, OR-21 etc).

This is first year we have to deal with them and we are not too clear on what to do.

Do we need to enter them somewhere under the Federal return, or using the Schedule K-1 is enough? Thanks.

bclee

Level 5

You should have also received a regular K-1 for the Federal filing. Put those into TT first. Then when you're ready to do Oregon, you can note the differences between the K-1 and the OR K-1 in the Other Adds code 119 (for partnerships or S-Corps) or Other Subs code 323 (for partnerships or S-Corps) in Forms mode. There may be some other codes that apply such as in the 15x and 35x range. The StepbyStep mode doesn't show all the possible codes. If there are no differences on the OR K-1, then you can ignore this.
The lack of TT support for OR K-1s is a shortcoming. TT CA State has a place in StepbyStep for CA K-1s, but the OR State module doesn't doesn't acknowledge them.

I don't have experience with the OR-21 K-1 so I defer to these documents

https://www.oregon.gov/dor/forms/FormsPubs/schedule-or-21-k-1-instr_107-113-1_2022.pdf

https://www.oregon.gov/dor/forms/FormsPubs/form-or-21-instr_107-114-1_2022.pdf

https://www.oregon.gov/dor/forms/FormsPubs/schedule-or-21-md-instr_107-112-1_2022.pdf

sabadi75Author

Level 2

I found where to enter the OR-21-K-1 items, in the Form mode go to OR-ASC use code 167 for Addition and 900 for the Credit. Then enter the value on the OR-40 lines.