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Level 10
June 9, 2023
Solved

CA PTE shown on K-1 for Partnership

  • June 9, 2023
  • 1 reply
  • 6 views

The partnership listed the CA PTE tax paid in 2022 in Box 13W of the Federal K-1.  What information does this give me with respect to the partner?  the CA credit shown on the California K-1 is needed for the California tax return. 

I don't know why this partnership felt the need to list the tax paid on a separate K-1 line for deductions.

Finally, I deducted the tax in the Other Deductions section (although I think I could have netted that with Box 1).

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Best answer by sjrcpa

Are you sure Box 1 wasn't already reduced by the PTET?

1 reply

sjrcpa
sjrcpaAnswer
Level 15
June 9, 2023

Are you sure Box 1 wasn't already reduced by the PTET?

The more I know the more I don’t know.