PTET

[MuhammadK]

For Lacerte 2021 ,In partnership (1065)  and (1120-S), where are we going to put the payment for

PTET ( Passthrough Entity Tax ), to be specific what screen in Lacerte.

[George4Tacks]

That is dependent upon the state and tax type. Be more specific. 

No method is to use Ctrl + F to start a search for Pass-through

[MuhammadK]

The State is New York State, PTET is the optional tax  that will be paid by electing Partnership and S-corps. I would like to know where the data for that would be inputted in Lacerte and where can we see the worksheet for that in Lacerte.

[George4Tacks]

I don't do NY, but I did find https://www.tax.ny.gov/bus/ptet/ that says you can do the election online. I can not find a specific input in Lacerte that you might need, but Lacerte may not have it in the software yet. 

Per the NYS instructions for the IT-204 "Item Q If you opted to pay the PTET for the tax year, mark an X in the Yes box here; if you did not opt to pay the PTET for the tax year, mark an X in the No box here." If you look at Lacerte IT-204 you will see that this does not match up. You will also see many ! marks that tells it is not yet ready for prime time.