Apportion a Schedule C business across multiple states. All states have gross receipts and wages, but all assets and rents are in only one state.All details in apportionment section of Schedule C have been entered. But it does not seem to be working.What specific steps are necessary to prepare?Or, can this even be done in this way?Yes this is a first attempt at taming such a return. Any and all assistance is greatly appreciated! (Related? Have found Help reference to "Set Apportionment Options" in Settings > Options > Tax Return but I'm not finding Section "Multi-State Options" where Apportionment settings are to exist)

Level 7

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Schedule C Apportion Multi-State - Assets, Rents in One State

Forum|Forum|5 years ago
September 28, 2020
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Apportion a Schedule C business across multiple states. All states have gross receipts and wages, but all assets and rents are in only one state.

All details in apportionment section of Schedule C have been entered. But it does not seem to be working.

What specific steps are necessary to prepare?
Or, can this even be done in this way?

Yes this is a first attempt at taming such a return. Any and all assistance is greatly appreciated!

(Related? Have found Help reference to "Set Apportionment Options" in Settings > Options > Tax Return but I'm not finding Section "Multi-State Options" where Apportionment settings are to exist)

Lacerte Tax

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George4Tacks

Level 15

For each entry in Schedule C, use Ctrl + E to allocate that income/expense/depreciation item etc. What states are you working with. What is the resident state. Some don't really care where the income came from, they tax it anyway. The net affect is how the credit for taxes paid other states shows up.

Answers are easy. Questions are hard!