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Level 2
October 13, 2024
Question

1041 entering multi state rental income so it flows correctly to k-1's

  • October 13, 2024
  • 1 reply
  • 2 views

I have set two beneficiaries to 50% each on Federal. (CA residents)

I entered Arkansas rental income and Illinois rental income.

The AR k-1's are correct with 50% of AR income to each beneficiary..

But, IL k-1-t's show 50% of TOTAL income for each beneficiary, not half of IL income.

What did I miss to mess up the IL distributions? 

***FOUND IT (bottom of IL NR Info, forgot to enter the Apportionment Sales Factor (ALL / IL)*** 

Thanks

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    1 reply

    BobKamman
    Level 15
    October 13, 2024

    Are the Illinois beneficiaries residents of Illinois?  So all of the rental income is taxable to them, regardless of source?  

    Level 2
    October 13, 2024

    Thank you for reply. I found answer and added to original post. 

    Level 2
    October 13, 2024
    No text available