How do I elect Kansas K-120S to be subject to tax with a 1065 return using CCH® ProSystem fx® Tax and CCH Axcess™ Tax?

  • Article Type:
  • How To
  • Last Modified:
  • 03/23/2023

Objectives

K-120S, page 1, item N - Are you electing to be subject to tax at the entity level?
K-120S, page 2, lines 27, 28, 29, 30, 31 and 32 - Electing pass-through entity income tax due.
K-120S, page 5, part IV - Partners or shareholders distribution of income.

Environment

  • CCH® ProSystem fx® Tax
  • CCH Axcess™ Tax
  • Partnership - 1065
  • Kansas - KS

Procedure

Election (K-120S, page 1, item N)
  1. Go to Common State / City > State PTE Generation worksheet.
  2. In Line 16 - Kansas, select the checkbox in the Generate State PTE return column (Interview PTE-ST1, box 94).
  3. Calculate the return.
Extension
  • Go to Extensions > Extensions worksheet > Section 2 - State Extension Information > Line 1 (Interview EXT-2, box 30) - Produce all state first extensions, select the checkbox.
  • Or Grid 4 - Specific State Information - First Extensions, in column State Code (Interview EXT-2, Box 40) select KS.
    • If after 3/15, also select (Interview EXT-2, box 45) - X to Unlock.
Kansas K-9 Statement of Partnership Tax Paid
  • The K-9 Part B will currently calculate for Individual and Grantor partners when PTE is elected for KS.
    • Software update release 2022.03030 will limit to only Individual and Grantor Trust partners. 
Net Operating Loss (K-120S, page 2, line  29)
  • Kansas > Pass-through Entity worksheet > Section 4 - Net Operating Loss > Line 1, columns Original Loss Sustained and Loss Previously Applied (Interview Kansas > KS8, boxes 80 and 81).
Payments (K-120S, page 2, lines 34-36)
  • Line 34 - Estimated tax paid and amount credited forward: 
    • Kansas > Pass-through Entity worksheet > Section 2 - Tax Payments > Grid 1, and Line 3, or Line 2 and 3 (Interview KS8, boxes 50-57, and 59, or 58 and 59.
    • Detail Grid 1 overrides input made to line 2 - Total if 4, equal timely payments made.
  • Line 35
    • Kansas > Pass-through Entity worksheet > Section 2 - Tax Payments > Line 5 - Tax Paid or withheld for nonresidents (Interview Kansas > KS8, box 62).
  • Line 36
    • Kansas > Pass-through Entity worksheet > Section 2 - Tax Payments > Line 4 Amount paid with extension (Interview Kansas > KS8, box 61).

Notes

  • K-120S, page 5 will print to a statement if more than 6 partners.
  • PTE tax will compute for all partner entity types except Corporations.
  • Kansas K-9 Statement is not included with the electronic file.

Additional Information

N/A

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