Where do you enter the federal and California income differences from a flow-through entity in a partnership tax return? Please advise. Thank you

Forum|Forum|5 years ago
July 2, 2021
3 replies
22 views

The LLC received K1 income from multiple upper tier LLC with federal and CA differences. Federal worked but CA K1 should have different loss

ProSeries Professional

This topic has been closed for replies.

Just-Lisa-Now-

Intuit Community Champion

Go to the CA return and theres a CA K-1 worksheet you can enter the differences.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

N

nethespiritu

Level 3

Hello Lisa,

Thank you for your response to my question. I'm new to PS and I tried to contact my rep at PS with the same question but have not received any response.

Would it be ok with you if we can have a call on Tuesday? I still can't make it work with your suggested solution. I want the F&CA differences to be reflected on activity by activity

Thank you.

Just-Lisa-Now-

Intuit Community Champion

You may need to input each activity as its own K-1 for you to be able to do what you're you want to do.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

PATAX

Level 12

@userneth_espiritu since you are a new user, if someone takes the time to answer your question to your satisfaction, like Lisa did, then you should consid check the box that says accept as solution if you agree with respondent....

PATAX

Level 12

Should be "consider checking"

K

kanchan-textax-u

Level 3

Hi Team, we have NOL at Scorp Level, where Taxable Income is less $1M, so there is loss of $206,435, which has to flow through the individual, which has to flowthrouhgh individual ? how to do in Proconnect.

Just-Lisa-Now-

Intuit Community Champion

You may wish to post your question in the ProConnect forum, this is ProSeries
https://proconnect.intuit.com/community/proconnect-tax/discussion/03/304

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Sign up

Login with SSO

Let's get you signed in

Login with SSO