WebThe PTET will print on form IT-204, lines 144a-f, with code 653. To allocate the credit to specific partners: Use the state's Partnership PTET Worksheetto determine the amount of credit each partner can claim. From along the top of the workspace, select the Special Allocationstab. In the upper-left corner, use the drop-down menu to select NY. WebNov 11, 2024 · New York State’s draft 2024 versions of Form IT-653, Pass-Through Entity Tax Credit, and Form IT-2105.9, Underpayment of Estimated Tax by Individuals and Fiduciaries, provide important information about the interaction of the pass-through entity tax credit with the estimated tax requirement for the 2024 tax year.
How to enter New York PTE tax in ProSeries - Intuit
WebForm IT-653. Pass-Through Entity Tax Credit. Form IT-656. Grade Number 6 Heating Oil Conversion Credit. Form IT-657. COVID-19 Capital Costs Credit. Form IT-658. Additional Restaurant Return-to-Work Credit. Form NYC-210. Claim for New York City School Tax Credit. MORE . Frequently Asked Questions. WebMar 16, 2024 · An individual or trust claiming a PTET credit should file form IT-653 reporting the original entity's EIN as the source of the credit. Credits. Which taxes are offset by a PTET credit? A PTET credit offsets all taxes computed and reported on New York State personal income tax Forms IT-201, IT-203, and IT-205. If the PTET credit exceeds the … show facebook account
Knowledge Base Solution - How do I input New York Passthrough …
Web243002220094 IT-203-ATT (2024) (back) Part 2 – Other New York State taxes (submit all applicable forms) 18 NY State tax on capital gain portion of lump-sum distributions … WebAug 26, 2024 · Eligible taxpayers that receive a PTET credit from an electing entity may claim the credit on Form IT-653, Pass-Through Entity Tax Credit, and attach it to their New York State personal income tax ... WebJul 14, 2024 · The PTET will be reported on form IT-204, lines 144a-f, with code 653. To allocate the credit to specific partners: Use the state's Partnership PTET Worksheet to … show facebook icon on desktop