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Level 5
May 18, 2023
Question

Schedule K-1 (100S) Line 16d Missing.

  • May 18, 2023
  • 1 reply
  • 15 views

Taxpayer received schedule K-1 (100-S) with line 16d showing distribution. While K-1 (1120-S) on 1040 is showing line 16d, California K-1 is only showing line 16a-c in ProSeries Basic.  Where to report distribution on California’s K-1 of the personal tax return?

 

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1 reply

Just-Lisa-Now-
Intuit Community Champion
May 18, 2023

Doesn't that only affect basis?  its not a figure that appears on the tax return anywhere, is it?

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aedwanAuthor
Level 5
May 18, 2023

That's correct, it only affects shareholder basis! 

Just-Lisa-Now-
Intuit Community Champion
May 18, 2023

ProSeries doesn't really have a way to keep track of basis, except for with the 7203 on the federal.  I think we have to track state basis separately, outside the program.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪