sehoon
Level 1
12-07-2019
11:41 AM
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I am preparing Trust tax return
My client business is qualified for Oregon PTE
I would like to make PTE Credit for OR 41 tax return
I don't know how I apply PTE credit for oregon 41 tax return on the Lacerte program?
Thank you for your help in advance
Best Answer Click here
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George4Tacks
Level 15
12-07-2019
11:41 AM
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Are you sure that a trust qualifies? https://www.oregon.gov/DOR/forms/FormsPubs/schedule-or-pte-fy_101-365_2018.pdf
To be eligible for the reduced tax rate:
- You or your spouse must have qualifying income from a sole proprietorship, partnership, or S corporation;
- You or your spouse must have materially participated in the business; and
- The business must have employed at least one qualifying employee in Oregon
Here's wishing you many Happy Returns