dgu4445 Posted February 12, 2022 Report Share Posted February 12, 2022 Is anyone having difficulty with the PTE tax for IL 1120ST and IL 1065 returns? It appears an update came through in the past 24 hours and the PTE tax is now being added automatically to all returns. It is my understanding that you need to elect to file and pay this tax and you do that on the face of the IL return (line L) in Step 1 for the 1120ST. Clicking this box now removes the PTE tax, but I'm just not sure if that is correct as the instructions for the 1120ST indicate that this box should be checked if you are electing to pay the tax. Is anyone else running into this issue after the latest update? Thanks Quote Link to comment Share on other sites More sharing options...
KenO Posted February 14, 2022 Report Share Posted February 14, 2022 Yes, thanks for pointing this out. It does seem like they have it backward. Have you submitted a support case? Quote Link to comment Share on other sites More sharing options...
KenO Posted February 14, 2022 Report Share Posted February 14, 2022 Take a look at IL Sch B, Page 2 column F to indicate that the member is a resident. That seems to eliminate the PTE calculation and you don't need to check the box on Step 1 Line L. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.