Common questions and answers regarding California Passthrough Entity Tax (PTE) Information for 1120S returns
- Article Type:
- Documentation
- Last Modified:
- 01/17/2024
Objectives
What are some common questions and answers regarding California passthrough entity tax election in S-Corporation returns?
Environment
- CCH® ProSystem fx® Tax
- CCH Axcess™ Tax
- Partnership – 1120S
- Worksheet View – WSV
- Interview Forms - IVF
Details
| Question | Answer |
|---|---|
| -Form Name |
|
| -State Links |
|
| Election for PTE | |
| -Is an Election Required? |
|
| -Made when? |
|
| -How do we make this election? |
|
| -Option to Opt-Out? |
|
| Generation of State PTE Return | |
| -How do we generate the form above? |
|
| |
| -Is this a separate filing from the main form, part of the main form, or filed on it's own? |
|
| Estimates | |
| -Are there estimates for this form? |
|
| -How do we generate them? |
|
| -Can you apply an overpayment from the current year form? |
|
| Interest/Penalties | |
| -Do interest/penalties apply? |
|
| -If yes, how do we request the calculation? |
|
| -Is there an underpayment penalty? |
|
| Additional PTE Information | |
| -Does this section apply to this state? |
|
| Additional Input Available | |
| - Does new input options under State and City Tax Refund flow to the state? |
|
| - Does new input options under Taxes and Licenses flow to the state? |
|
| - Does new input options under Rent/Royalty flow to the state? |
|
| - Does the new input options under Farm flow to the state? |
|
Additional Information
N/A
| Solution Id | 000259755/Common-questions-and-answers-regarding-California-PTE |
|---|---|
| Direct Link |
