Multistate K1 on individual return

Forum|Forum|6 years ago
June 4, 2020
1 reply
18 views

Hi all,

Second question of the day.

I have a client with a multistate k1.

Home state is Alabama, K1 is for NC. I cannot get the income to flow to Federal and North Carolina without also flowing to Alabama.

I need the federal to show income, Alabama to show zero, NC to show income. Ive looked at the following article:

https://proconnect.intuit.com/community/help-articles/help/sourcing-income-for-a-multi-state-passthrough-k-1/00/4820

I have tried its suggestions, I have tried using the N and S drop downs, I have tried every combination.

If AL shows zero, then so does Federal. If NC shows income, then AL and Fed are both zero. What I need is for NC to show income, Fed to show income, and AL to show zero for the particular amounts.

Thanks so much I hope this makes sense

ProConnect Tax Online

This topic has been closed for replies.

Best answer by sjrcpa

An AL resident is taxed on all of their income. Why do you think AL should show zero?

Client will get a credit on AL return for tax paid to NC.

sjrcpaAnswer

Level 15

An AL resident is taxed on all of their income. Why do you think AL should show zero?

Client will get a credit on AL return for tax paid to NC.

The more I know the more I don’t know.

E

EmsBTW2016Author

Level 4

Okay well that makes sense to me and thank you for explaining! This is for a 2018 return that I am recreating in Proconnect - I am recreating this clients 2018 return in Proconnect based on what was done on the prior year return which I did not sign but was the preparer on - changes were also made by reviewer and never communicated to me. It seems it was incorrect since the AL return does not show this k1 income (it is small - less than $100). I will inform my client and see what they would like to do. Amending would be ok with me - any other options?

I thought this would help me learn the software and also be able to roll forward to 2019. The 2019 return is the one I am going to prepare completely on my own.

The 2018 return is the one that is not picking up the k1 long term cap gain income on the Alabama return.

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