Taxpayer received k-1 (541) where to deduct line 14a Tax Exempt interest on state return

Forum|Forum|5 years ago
May 15, 2021
1 reply
6 views

Could someone help me to deduct that credit from the California State return. I cannot find it where to enter it. Any advise is appreciated.

Greatly,

ProSeries Basic

This topic has been closed for replies.

Just-Lisa-Now-

Intuit Community Champion

The 1041 K-1 worksheet should have an input for Line 14a and then you choose the state down below that line.....or does Basic not have a 1041 K-1 worksheet? You shouldnt need to make any adjustment in the 541 within the state program, it should be handled properly by entering it on the federal...assuming Basic works similar to Professional.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

S

shprofessionalservicesAuthor

Level 2

Lisa thank you for taking the time to help. I completed the 1041 K-1 but only the k-1 541 is the one that shows item 14a columns (c) 3,389.00 (d)3,389.00 and (d)3,389.00 not the 1041 K-1.

My question is if in the K-1 (541) item 14a showings the columns how do we report that? Your input is much appreciated. Greatly, Silvia

Just-Lisa-Now-

Intuit Community Champion

there is no separate entry for those lines on the 541 K-1 worksheet, it should transfer the necessary info over from the federal.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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