Nebraska - Adding PTET Credit to Form 1040N
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To save some entry work, before adding the PTET credit and other Schedule K-1 items to the Nebraska tax return, ensure you have added all Schedules K-1 to the federal return.
To add the PTET credit from a passthrough entity to the Nebraska nonresident tax return (Form 1040N), from the Nebraska Tax Return Menu:
- Select Miscellaneous Forms
-
NE Schedule K-1N (1041)
NE Schedule K-1N (1065)
NE Schedule K-1N (1120S) - Select the appropriate passthrough entity type, whether 1041, 1065, or 1120-S. - In the K-1 Info window, do either of the following:
- Select Cancel to arrive at the K-1 window where you can select the "Pull from Fed" button to pull in the passthrough entity's information from the federal return.
- Enter the passthrough entity's information.
- In the window listing the K-1(s), select the K-1 that has the PTET Credit.
-
Beneficiary's Share of Credits
Partner's Share of Credits
Shareholder's Share of Credits - Select the menu line that shows for this K-1. - PTET Credit
- 20xx PTET Credit - Enter the amount of credit for the appropriate year.
Additional Information: