Common questions and answers regarding Iowa PTE-C composite with an 1120S return using CCH® ProSystem fx® Tax and CCH Axcess™ Tax.

  • Article Type:
  • QA
  • Last Modified:
  • 03/14/2024


What are some common questions and answers regarding Iowa PTE-C with tax year 2022?


  • CCH® ProSystem fx® Tax
  • CCH Axcess™ Tax
  • S Corporation - 1120S
  • Iowa - IA


-Form NameIowa PTE-C
-State Links Instructions:
Election for PTE
-Is an Election Required?
  • Any IA 1120S return that has nonresident members at any time during the tax year and pay Iowa composite return tax on their behalf must file the IA PTE-C.
-Made when?
  • Due Date: May 1st, 2023
-Option  to Opt-Out?
  • The Form IA 41-175 may be filed per shareholder to opt out of being included in the filing of Form IA PTE-C.
  • Iowa > 1040C Composite Return worksheet > Iowa Composite Return > in grid Partner/Shareholder Information, enter the Shareholder number and then in column Code, select option 4, which will exclude that particular shareholder form the PTE-C and produce the 41-175.
  • Interview Iowa >  IA6, Boxes 50 - 128.
Generation of State PTE Return
-How do we generate the form above?
  • Common State/City > State PTE Generation > State PTE Return Generation > Iowa - Generate State PTE return.
  • Interview Iowa > PTE-ST1, Box 90.
  • Or Iowa > IA PTE-C Composite Return worksheet > IA Schedule CC-Composite Credits > X to generate Form PTE-C (removed for tax year 2023).
  • Interview Iowa > IA6, Box 48 (removed for tax year 2023).
-Are there estimates for this form?
  • Estimates for the IA PTE-C are currently not available.
-Do interest/penalties apply?
  • Interest and penalties can selected on Penalties > State / City Late Interest and Penalties
  • Interview Common State > Penalties > PEN-1.
-Is there an underpayment penalty?
  • Underpayment can be selected on Penalties > State / City Underpayment Penalty
  • Interview Common State > Penalties > UP-1.
Additional PTE Information
  • Common State > State PTE Generation worksheet >Grid 23  (Interview PTE-ST1, boxes 300-364)
-Does this section apply to this state?
  • Not at this time.

Additional Information


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