How can I generate a PA RCT 101 starting in Drake16?
Beginning in Drake16, the RCT 101 does not generate at all in a 1040 or 1065 per the Pennsylvania instructions:
"The Capital Stock/Foreign Franchise tax has been phased out for tax years beginning on or after Jan. 1, 2016. This means that many business types such as S corporations, LLC’s taxed as pass-through entities and business trusts that are not federally taxed as a C corporation will need to file their final RCT-101 corporation tax report for the 2015 reporting period. These reports must be marked as final reports."
The RCT 101 only generates in an 1120S when:
- There are built-in gains (per the instructions), or
- When PA screen 101 has the check box marked Produce RCT Series returns even though there are no built-in Gains:
See the PA Instructions for more information.