Question
Reporting NYS and NYC PTET Deduction Amounts on Form 1120-S
Hi,
Just wondering how other accountants input the NYS and NYC PTET deduction amounts on the Form 1120-S return. Have you been putting the NYS and NYC PTET tax amounts under the Form 1120-S Line 12A State franchise or income taxes or Line 12D Other miscellaneous taxes? Is there any guidance as to which line to put it on or are either of those lines ok to put the PTET amounts on?
