Before you start:
- To determine if your client is eligible, review the instruction booklets for Pass-through Entity Election.
To generate the PTE for Individual business filings:
- Go to Screen 54.492 Rhode Island PTE Taxes.
- Enter a 1 for taxpayer and/or spouse on File TI-PTE.
- Complete the 1=Cash, 2=Accrual line for the taxpayer or spouse.
- Review the lines for any variations that apply to this client.
To generate the PTE for a Partnership:
- Go to Screen 40.491 Rhode Island Adjustments.
- On the PTE tax elected to be paid by PTE under RIGL 44-11-2.3 line enter the total amount of pass-through entity tax elected to be paid to be allocated to pass-through entity partners.
- This amount will be multiplied by the ratio of pass-through entity partners and reported in the Additions section of the RI K-1.
- Amount entered is also reported on form RI-1065 as an addition to federal taxable income.
- Go to Screen 43.494 Rhode Island PTE Taxes.
- Under the Rhode Island PTE Taxes section check the File RI-PTE checkbox.
- Complete the 1=Case, 2=Accrual line to generate the RI-PTE.
- Go to Screen 43.493 Rhode Island Pass-Through Withholding.
- Review the lines for any variations that apply to this client.
- Review the calculations on the RI-PTE and the RI-1099E for each partner.
To generate the PTE for an S-Corporation:
- Go to Screen 49.493 Rhode Island PTE Taxes.
- Under the Rhode Island PTE Taxes section check the File RI-PTE checkbox.
- Complete the 1=Case, 2=Accrual line to generate the RI-PTE.
- Go to Screen 49.492 Rhode Island Pass-Through Withholding.
- Review the lines for any variations that apply to this client.
- Review the calculations on the RI-PTE and the RI-1099E for each shareholder.
To generate the PTE for a Fiduciary:
- Go to Screen 58.492 Rhode Island PTE Taxes.
- Under the Rhode Island PTE Taxes section check the File RI-PTE checkbox.
- Complete the 1=Case, 2=Accrual line to generate the RI-PTE.
- Review the calculations on the RI-PTE and the RI-1099E for each.
