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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- How to allocate income and expenses by percentage across multiple states in 1120S?
How to allocate income and expenses by percentage across multiple states in 1120S?
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JRAKE
Level 1
03-08-2024
11:15 PM
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My client has income from both Washington State and Idaho. How do I allocate between the two states to show properly on the K-1? They reside in Washington but it's a construction company that does business in both states, so I don't want the Washington sales showing up on the Idaho K-1.
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George4Tacks
Level 15
03-09-2024
08:07 AM
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This link is for 1040, but the concept is the same = Use Ctrl + E to open a screen to split the income (expense) between the states.
Answers are easy. Questions are hard!
