Re: How to enter Fed/State K-1 differences on a 1065 return - Intuit Accountants Community

How do I enter in the 1065 module K-1 information from an investment partnership that is different for federal and state purposes? I see this question has been asked before, but not answered as far as I can tell, and apparently my only hope on the Proseries help phone number is to keep calling back until I get someone who can answer this question?? Thank you for any assistance.

Does your state have a K-1 that flows from the federal K-1? Are there lines for entries like "State if different?"

PA and NJ both have K-1s to make changes.

** I'm still a champion... of the world! Even without The Lounge.

It's a CA return and a CA K1. The K-1 format is to show the federal amount, California adjustments and then the California amount.

There you have it.

** I'm still a champion... of the world! Even without The Lounge.

Um, what? I also use Lacerte, and doing this is a no-brainer there, but somehow in Proseries it has to be hidden or made possible only with an override.

Where is the override? For PA, Column (a) uses the federal amounts. Column (b) says "Pennsylvania, if different."

Where is it hidden? Because it's not on the federal K-1 input?

** I'm still a champion... of the world! Even without The Lounge.

Oh, do you mean preparing a 1065 which owns an investment 1065?

Yeah, there it's no so easy.

I haven't used Lacerte since the DOS days.

Sorry for my confusion.

** I'm still a champion... of the world! Even without The Lounge.

Yes, that is what I mean. 😉Thank you for trying to help. This is a ridiculous flaw on the part of ProSeries.

Lacerte still requires -1 in order to enter zero.

** I'm still a champion... of the world! Even without The Lounge.