Pennsylvania Special Purpose Entities FAQ

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Do I need to send the REV-1123 along with my return and K-1?

No, the REV-1123 was submitted to the DOR prior to your K-1 being sent.

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Do I need to submit my K-1 document with my federal return?

No, you do not need to submit your K-1 with your federal return. Our CPA, Trout CPA, has filed all K-1 documents with the IRS.

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How much of a state tax credit will I receive?

You will receive a state tax credit for 90% of your contribution. This cannot exceed your Pennsylvania tax liability. The additional 10% can be counted as a charitable contribution on your federal return.

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I received a letter from the Pennsylvania Department of Revenue asking for the REV-1123. What do I need to do?

The REV-1123 was submitted to the Department of Revenue and recorded prior to your K-1 being sent. If you receive a letter, please email a copy to CTF_SPE@acsi.org and a CTF member will reach out to our contact at the state to have the issue resolved. If you are a participating business that received this letter and you are passing down credits to an individual, you must have submitted an REV-1123 from your business. Please email CTF_SPE@acsi.org and we can reach out to the state to see if this is the information that is needed.

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What do I list on the PA Schedule OC?

On line 8 of the PA Schedule OC fill in the following:  Credit Description Code – PT (credits are being received from a pass-through entity), Awardee Tax ID Number – Listed on page 1 of your K-1 in Part 1, Box A.  This is the Partnerships employer identification number – Number 8 – enter the amount of credit you are utilizing that was passed through to you from the SPE.

If you are part of the Berks Christian School Scholarship Partners, LLC SPE you will fill in line 9 as this is an OSTC SPE.

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What do I need to submit with my state tax-return?

You will need to submit your full K-1 document and complete a PA Schedule OC. Sample Schedule OC (link this to sample document)

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When filing my return, one question asked to Describe the Partnership. What do I select?

If you are asked the following question when completing your return, you should be able to leave this blank and move on to the next question.

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When will I receive my K-1 tax document?

Special Purpose Entities have until March 15th to issue your K-1 tax document. Your K-1 will be sent via secure email usually by the end of February but no later than March 15th.

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Where do I list the credits when filing my return on Turbo Tax?

Information listing other credits when filing your return using Turbo Tax can be found here: https://ttlc.intuit.com/community/state-taxes/discussion/i-have-a-tax-credit-that-needs-to-be-filed-on-pennsylvania-schedule-oc-can-that-be-done-on-turbo-tax/00/1379977/amp

Click here for Instructions for Turbo Tax Desktop Version

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Why is my state return taking longer than normal?

  1. Due to the additional step of verifying the credits on your return you may find your tax-return takes longer for the state to process than before. The PA DOR has stated that taxpayers who are claiming credits on their return, should expect their refunds in the fall. Here are a few steps that you can take for the most up to date status of your refund:

    You can check the status of your refund online at https://mypath.pa.gov/_/.  Scroll down to the section “Refunds” and click on “Where is My Refund?”

  2. If you haven’t received your 2022 refund, please email (ctf_spe@acsi.org) with your MyPath id number from your search on the site listed above and we will contact the DOR on your behalf.

We will not be checking for 2023 returns until October