How do I prepare Indiana Schedule PTET with a 1065 return type using 2023 interview forms in CCH® ProSystem fx® Tax?

  • Article Type:
  • How To
  • Last Modified:
  • 03/22/2024

Objectives

Generate and populate Indiana Schedule PTET with a partnership return.

Environment

  • CCH® ProSystem fx® Tax
  • Partnership – 1065
  • Interview Forms – IVF
  • Indiana - IN
  • Pass-through Entity Tax – PTET

Procedure

Two minimum input are required to prepare the Sch PTET: 

  1. Interview PTE-ST1, line Indiana under column Generate State PTE return.
  2. Interview Indiana > IN5, boxes 30-107 and 31-108 - Partner number column, and Include Partner on Schedule PTET column).
  3. (Optional) Interview Indiana > IN5, box 114 - Pass Through Entity Type.
  4. (Optional) Interview K-1, box 75-96 -  State if Different column, with an applicable state code.

Prepayments

  • IT-65, line 8: IN2, box 34 - Total amount of withholding - override.
  • IT-65, line 9: IN2, box 33 - Total composite withholding IT-6WTH payments - override.
  • IT-65, line 10: IN7, box 34 - Indiana passthrough credits attributed from other partnerships, estates and trusts - override.

Notes

  • Returns calculated on or after release 2023.02030, Schedule PTET, column C includes Indiana Resident Partners  and calculates column D PTE tax for owners with income in column C.
    • Override input to control Schedule PTET, column D:
      • Interview Form Indiana > IN5, boxes 118-173 - Pass Through Entity Tax - Override.
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