Believe me this does not make sense in tax law as I have done things in the past 40 years  unless you equate it to an individual return TP making estimates.  I read somewhere that the PTET payment is to be treated on the tax return as a cash basis on the entity return taxpayer even if accrual. 

As for the double dip - no because the individual must make the IT 225 addback for the amount of the tax payment credit passed through.  If is not done at the entity level. Pro series does that automatically if you put the payments on the form IT-653 line A-219.

The reason you cannot accrue the payment in is because the credit pass-thru cannot exceed the estimated tax paid, no payment be the entity, no credit to the taxpayer.

OK - this is my understanding of this NYS crap and the State is not giving much guidance that I can find.

Thanks,

Jim

If you can show me anything that disputes my "belief"  on how this works it would be much appreciated.

NYS told me to read page 10 of the instruction for the IT-204 - it has one line on how to report the credit to the shareholder- what a joke.