Down below we'll go over how to enter PTE for Georgia on Individual, Partnership, and S Corporate returns in Lacerte.
Individual
- Go to Screen 52.201, Georgia Miscellaneous.
- In the section that matches the type of modification you'd like to make, enter the amount in the following field:
- Georgia Additions ⮕ PTE Owners: Addition to share of entity's allocable loss, using Description "PTEADD."
- Flows to Sch 1, Additions to Income - Line 5.
- Georgia Subtractions ⮕ PTE Owners: Addition to share of entity's allocable income, using Description "PTEDED."
- Flows to Sch 1, Subtractions to Income - Line 12.
- Georgia Additions ⮕ PTE Owners: Addition to share of entity's allocable loss, using Description "PTEADD."
Partnership
- Go to Screen 37.201, Elect to pay at entity level.
- Under the North Carolina Miscellaneous section, check the box for Elect to pay at entity level.
- This will generate PV CORP with the tax paid. Partners will see this on page 2 of the Ptr. Summary, including instructions on how to report it as a subtraction on their Individual GA return.
S Corporation
- Go to Screen 42.201, Elect to pay at entity level.
- Under the North Carolina Miscellaneous section, check the box for Elect to pay at entity level.
- This will generate PV CORP with the tax paid. Shareholders will see this on page 2 of the S/H Summary, including instructions on how to report it as a subtraction on their Individual GA return.