ENTERING 1065 K-1 INFO TO INDIVIDUAL 1040

Forum|Forum|6 years ago
July 17, 2020
4 replies
18 views

CLIENT IS THE PARTNER WHO RECEIVED A K-1 FROM HIS PARTNERSHIP and I have to put the info into his 1040 for Federal, NY and CA. The NY IT-204-IP has him as a 77.7777 % and Tech Support couldn't help find the answer.

ProSeries Professional

This topic has been closed for replies.

Just-Lisa-Now-

Intuit Community Champion

There's nowhere on the federal K-1 entry worksheet to put the % of ownership, what is it you need help with?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

P

PrimcessAuthor

Level 2

I filled out 2 IRS info sheets. Can I attach it to this email so you can see what I received from the customer? I have his 1065 K-1 and also the NY IT-201-IP that has the percentages and 2 columns of info that needs to be entered because the NY amount is different than the Federal

Just-Lisa-Now-

Intuit Community Champion

Its common to get a state K-1 along with the federal one, Im not very familiar with NY, do they have their own K-1 worksheet built into the program like CA does?

You didnt mention which state your client is a resident of, there is a Non resident state worksheet that can be filled out at the bottom of the federal information worksheet to allocate items to non resident states.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Sign up

Login with SSO

Let's get you signed in

Login with SSO