New York partnership return reports PTET information in four forms with CCH® ProSystem fx® Tax and CCH Axcess™ Tax:

• PTET Worksheet
• PTE Partner Information report
• IT-204, page 9, line 144a-f
• IT-204-IP, Item Q and Line 47a-f  (with partner entity types: Individual, Trust, Estate, and Grantor Trust)

Preparing and populating the PTET Credit:

Method 1: Automated calculation of PTET Worksheet and IT-204-IP credit (Tax Year 2022 and forward)

1. Go to Federal Interview Form PTE-ST1.
2. In box 178 - New York, select the checkbox.
3. Calculate the return.

Method 2: Automated calculation of PTET Worksheet and IT-204-IP credit (Tax Year 2021 and 2022)

1. Go to New York > NY2.
2. In box 70 - Opting to file PTET, select the checkbox to automate a PTE Worksheet calculation, based on other return input, and distribute the PTET credit to partners (removed in tax year 2023).
3. Go to New York > NY2A.
4. (Optional) In boxes 52-71 - PTET Worksheet Overrides, input as applicable.
5. Calculate the return.

Method 3: Override the credit distributable to the partners

1. Go to New York Form NY10 - New York Partners' Credit Information.
2. In box 60 - Other Passthrough Credit Bases and Factors - Code, select code 653.
3. In box 61 - Amount, input applicable credit amount.
4. Calculate the return.

Notes

• IT-225 addition code A-201 by default includes any state taxes paid deduction from the Federal return. The A-201 amount may need a NY4, boxes 30-31 input override as a control to not include New York taxes paid which are included in the PTET credit calculation.
• IT-225, when prepared for a IT-204 return, will not include an addition code A-219, per state instructions, page 27: 
  • https://www.tax.ny.gov/pdf/2022/printable-pdfs/inc/it225i-2022.pdf
• Special Allocation Code 34850 may be used to allocate the credit.
• If using both Method 2 and Method 3, then the PTE Wkst is designed to only print the line 19 PTET tax due.
• If special allocation 34850 input uses amounts totaling greater than the amount input with Method 3, then IT-204-IP will print incorrectly for partners. 
• Partners coded as LLC - Disregarded Entity for Federal return will not receive a credit on their IT-204-IP by default. Remove the SMLLC partner Interview Form K-1, box 103-127 Entity Code of L, and their IT-204-IP will receive their portion of the credit, or utilize government form (pink) and line override for Disregarded entity partners.
• There is no PTET line on the IT-204-CP.
• The credit amount may be derived from the state / local tax deduction line on Form 1065, page 1, or the farm, rental or other schedule.