S Corp Loss and Maryland PTE in ProSeries

[dsocpa]

S Corp has a loss.  Paid 2021 PTE tax.  As I understand

- loss means the PTE tax is either refunded or can be carried over and applied to the following year. 

- the federal income (including the deduction for PTE tax paid) follows to the MD K-1 line 1 (net loss includes PTE tax paid)

- On the K-1 Wks amounts on 1a & 2 distributable/pro rata share of MD income have the amount of PTE paid during 2021 added back (decreasing the MD loss). 

Total Loss = (38,000) federal

PTE Paid = $5,500

MD Income(loss) allocable to shareholders = $32,500

 I believe the PTE tax can be refunded to the entity or carried over to 2022.  Problem is ProSeries is not allowing me to enter the PTE tax paid on the Sch K Wks section D line 2 without an error for rounding?  As a result the PTE tax is not showing as an overpayment on form 511 and no entry can be made on line 9 or 18.  No total on line 10, 15 or 19.

Should I override the applicable lines on the 511 to show the overpayment as applied to 2022?  

[IntuitMark304]

dsocpa,

I am trying to replicate the scenario you are describing in your post.  I am posting a screen shot of the return.  

I think the answer to your question is to enter the $5,500 of PTE tax paid into the Information Worksheet, Part III for estimated tax payments.  This will transfer the total to line 13a and then line 15.  

This will create the overpayment you need to allow a user entry on line 18 to carryforward the amount to 2022.  

We value your input and hopefully this resolves your issue.  If not, please reach out again and we will work to find your solution.