Report the PTE Tax Paid by the partnership as follows:
This process will apply the PTE payment against your Virginia state income taxes due.
I formed my LLC in 2022 and elected to be taxed as an S-Corp late in the year; I had already paid my Virginia estimated taxes (760ES) and according Virginia, "If VA Form 502 PTET has not been filed for the tax year, the election can be revoked by filing the VA Form 502". If I follow the steps outlined, can I file 502 (or 502EZ) via TT Business to ensure that my estimated taxes are not allocated to my PTE?
@PatriciaV How can I get to the "Federal K-1 interview"? I cannot find that either in Step-by-Step or Form view and I am using TurboTax Business. Thanks!