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Level 1
December 7, 2019
Solved

How can I make PTE credit for Oregon 41 tax return?

  • December 7, 2019
  • 1 reply
  • 18 views

I am preparing Trust tax return

My client business is qualified for Oregon PTE

I would like to make PTE Credit for OR 41 tax return

I don't know how I apply PTE credit for oregon 41 tax return on the Lacerte program?

Thank you for your help in advance

  

This topic has been closed for replies.
Best answer by George4Tacks

Are you sure that a trust qualifies? https://www.oregon.gov/DOR/forms/FormsPubs/schedule-or-pte-fy_101-365_2018.pdf 

To be eligible for the reduced tax rate: 

  • You or your spouse must have qualifying income from a sole proprietorship, partnership, or S corporation
  • You or your spouse must have materially participated in the business; and 
  • The business must have employed at least one qualifying employee in Oregon

1 reply

George4Tacks
Level 15
December 7, 2019

Are you sure that a trust qualifies? https://www.oregon.gov/DOR/forms/FormsPubs/schedule-or-pte-fy_101-365_2018.pdf 

To be eligible for the reduced tax rate: 

  • You or your spouse must have qualifying income from a sole proprietorship, partnership, or S corporation
  • You or your spouse must have materially participated in the business; and 
  • The business must have employed at least one qualifying employee in Oregon
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