PTETaxDesk / 2026 State PTET & $40k SALT Guides / $600,000 K-1 Income ($650,000 MAGI): 2026 $40k SALT Cap vs. California PTET Calculator
$600,000 K-1 Income ($650,000 MAGI): 2026 $40k SALT Cap vs. California PTET Calculator
How much does PTET save at $600,000 K-1 income in 2026?
At $600,000 in pass-through K-1 income and $650,000 in household MAGI, your 2026 personal Schedule A SALT deduction cap is $10,000 (after a $30,000 phase-down above $500,000 MAGI). Electing entity-level PTET deducts $55,800 above the line under IRS Notice 2020-75, saving up to $19,530 in federal income tax while preserving the $32,200 MFJ standard deduction.
At $600,000 in pass-through K-1 income and $650,000 in household MAGI, your 2026 personal Schedule A SALT deduction cap is $10,000 (after a $30,000 phase-down above $500,000 MAGI). Electing entity-level PTET deducts $55,800 above the line under IRS Notice 2020-75, saving up to $19,530 in federal income tax while preserving the $32,200 MFJ standard deduction.
Open Pre-Filled $600,000 K-1 / $650,000 MAGI PTET Calculator
2026 $40,000 SALT Cap vs. Entity PTET Comparison ($600,000 K-1)
| 2026 Tax Metric | Amount |
|---|---|
| Pass-Through K-1 Net Income | $600,000 |
| Household MAGI (Pre-PTET) | $650,000 |
| 30% SALT Cap Phase-Down Above $500,000 MAGI | -$30,000 |
| Remaining Personal Schedule A SALT Cap | $10,000 |
| Entity-Level PTET Deduction (IRS Notice 2020-75) | $55,800 (Uncapped!) |
Frequently Asked Questions
Should I elect PTET at $600,000 pass-through income and $650,000 MAGI in 2026?
At $600,000 in pass-through K-1 income and $650,000 in household MAGI, your 2026 personal Schedule A SALT deduction cap is $10,000 (after a $30,000 phase-down above $500,000 MAGI). Electing entity-level PTET deducts $55,800 above the line under IRS Notice 2020-75, saving up to $19,530 in federal income tax while preserving the $32,200 MFJ standard deduction.