Article: 50159
Overview
Arizona Form 355 is designed for Arizona resident individuals whose partnership or S corporation has elected to pay state taxes at the entity level (also known as the Pass-Through Entity Tax, or PTET) under A.R.S. § 43-1014.
Reporting Form 355 – Credit for Entity-Level Income Tax Paid on Your Behalf
To report Form 355 – Credit for Entity-Level Income Tax Paid on Your Behalf, follow the steps below:
- Go to the State taxes section.
- Select I’d like to see the forms I’ve filled out or search for a form.
- In the drop list, select Arizona.
- Select the Credits tab.
- Select 355 – Credit for Entity-Level Income Tax Paid to add and open the form.
- Enter the amount on the applicable line.
- Click Save to apply changes.
If you received more than one Schedule K-1 or K-1(NR) reporting your apportioned amount of tax paid on your behalf by a Partnership or an S Corporation, add all amounts together and enter the total amount on the appropriate line in Part 1. If you received more than one 141AZ Schedule K-1 or K-1(NR) reporting your distributed portion of the tax credit, add all amounts together and enter the total amount on Line 3.
Additional Information
Go to the AZ Form 355 instructions for more information.