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April 1, 2024
Question

Can I get credit for missouri tax paid by a pass through entity?

  • April 1, 2024
  • 1 reply
  • 0 views
I have entered the missouri tax paid by a pass through entity and I cannot get Turbo Tax to file the Missouri income tax return electronically . I get an error message that the tax can't exceed the Missouri tax withheld.

1 reply

AmyC
Employee
April 3, 2024

I am going to assume you are talking about the new pass through entity that allows corporate owners of pass-through entities to claim a nonrefundable income tax credit for your share of the tax paid by the entity.

 

The credit cannot be more than your tax liability. The tax cannot be more than you are claiming. I believe you have entered an amount to claim that exceeds your tax liability.

Reference:

Pass Thru FAQs

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April 4, 2024

I am an individual partner of a partnership that elected pay the partners tax at the entity level.

Since my tax to Missouri is zero I should be able to recover the tax paid by the partnership which

was charged to me and which I will reimburse the partnership.  Your programing doesn't show the 

amount as a withholding item.  I forced an entry in the withholding section to make the overpayment

refundable to me.