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Hello all!
I have a client that is a partner in a partnership which issued a K-1 (simple enough). However, there are also 16 states that have forms for partners share of income for each state. I am having a hard time getting the states information added correctly. His home state is PA. The first state that I have information for is AL. I have tried unsuccessfully to enter the information and get it to flow to the PA return. If I am not mistaken, it should flow to the PA-40-GL.
Here are the steps that I have taken:
- Added the AL state return.
- On the K-1 input screen, I added the AL guaranteed payment amount and the distribution payment amount that he had for AL (from form 65).
- Added the composite payment made on the partner's behalf in the Other State Tax Credit for AL.
Would anyone be able to give me some guidance for this? I know that it is probably something easy because it is my first time doing this, but I would really appreciate any help that you can give me.
Thanks as always,
Jeff
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Federal K-1 is total income and deductions. State amounts may differ because of different state rules and adjustments.
Since your client is a PA resident, all you need to enter for AL is the income taxed on the composite AL return and the tax paid on the composite return so client can get a PA credit for tax paid to AL.
The more I know the more I don’t know.
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That did it! I was trying to make it more complicated than it needed to.
Thank you so much for your help.
Jeff
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You're welcome.
The more I know the more I don’t know.
