How do I generate Alabama Electing Pass-Through Entity Payment Return Form EPT with an 1120S return using worksheet view in CCH® ProSystem fx® Tax and CCH Axcess™ Tax?

  • Article Type:
  • How To
  • Last Modified:
  • 11/05/2022

Objectives

Learn how to generate an Alabama Electing Pass-Through Entity Payment Return Form EPT in an 1120S return using CCH® ProSystem fx® Tax and CCH Axcess™ Tax.

Environment

  • CCH® ProSystem fx® Tax
  • CCH Axcess™ Tax
  • 1120S
  • S Corporation
  • Worksheet View - WSV
  • Electing Passthrough Tax - EPT

Procedure

  1. Go to Alabama > General worksheet.
  2. Expand Section 1 - Basic Data.
  3. In Line 13 (Interview Form AL1, box 43) - X for an electing pass through entity, select the checkbox.
  4. Calculate the return.
EPT Payment input available:
EPT Payments lines are in the "Not Based on Income" column.
  1. Go to Payments / Penalties / Estimates > Payments worksheet.
  2. Expand Section 2 - State Quarterly Payments.
    • Line 4 - Total if four equal will populate EPT, line 5b.
      • Development currently recommends a pink override direct to EPT, line 5b.
    • Line 9 - Prior year overpayment applied.
    • Line 16 - Other extension payment.
    • On a future release, the detail Payment estimate entries will also use the Payment - not based on income field with either Code field, or an input in the State use field to indicate the payment applies to the EPT return.
2220AL EPT is a work in process.
  • EPT line 7a, overpayment amount applied to next year, government form (pink) override at this time.
  • EPT Lines 7b1 and 7c1, are from underpayment form, government form (pink) override at this time.
  • EPT Lines 7b2 and 7c2 are for late filing penalties and is calculated with input on Penalties > State/City late interest and Penalties worksheet.
  • Line 7d is calculated.

Additional Information

N/A

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