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commander24
Level 3
January 14, 2022
Question

Federal Deduction of IL PTE paid

  • January 14, 2022
  • 1 reply
  • 5 views

I know how to report IL PTE on the business return (1065 or 1120s) on IL.  What I don't know is how you deduct it on the federal return?  Is it deducted on the federal 1065 or federal 1120 and then m-1?  Is it deducted on the 1040 and how to do you enter it on the 1040?

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1 reply

sjrcpa
sjrcpa
Level 15
January 14, 2022

It's deducted on the 1065 or 1120S as Taxes.

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