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- IL PTE credit reports on form 1120-ST
IL PTE credit reports on form 1120-ST
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swacpa
Level 2
01-20-2024
03:16 PM
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Hello
I have an S-Corp that received a K-1 from an Illinois partnership and received a Schedule K-1-P. There is an amount on line 53a for PTE tax credit. The S-Corp made an election to pay the PTE tax on believe of its shareholders. Where does this lower tier PTE credit get reported on the Illinois 1120-ST?
Thank You
Steve
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