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Federal taxability of PTET refunds especially NYS

  • 1.  Federal taxability of PTET refunds especially NYS

    Posted 01-10-2023 07:45 PM
    Can anyone direct me to guidance for how to calculate includible PTET refunds, especially NYS? I think it's after other state credits and before estimates but would love it if could also be after NYC tax? Also assume not subject to SE tax if professional firm? Also, what if the entity had an overpayment? Does that fit in? What a mess. An article, LITPS class I missed, if 2022 tax programs do the work for you (mine does not) would be a help. Thank you. Sean

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    Sean McCarthy
    SEAN P. McCARTHY, CPA
    Wainscott NY
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