How to enter Fed/State K-1 differences on a 1065 return

[CEP]

How do I enter in the 1065 module K-1 information from an investment partnership that is different for federal and state purposes? I see this question has been asked before, but not answered as far as I can tell, and apparently my only hope on the Proseries help phone number is to keep calling back until I get someone who can answer this question?? Thank you for any assistance.

[Accountant-Man]

Does your state have a K-1 that flows from the federal K-1? Are there lines for entries like "State if different?"

PA and NJ both have K-1s to make changes.

[CEP]

It's a CA return and a CA K1. The K-1 format is to show the federal amount, California adjustments and then the California amount.

[Accountant-Man]

There you have it.

[CEP]

Um, what? I also use Lacerte, and doing this is a no-brainer there, but somehow in Proseries it has to be hidden or made possible only with an override.

[Accountant-Man]

Where is the override? For PA, Column (a) uses the federal amounts. Column (b) says "Pennsylvania, if different."

Where is it hidden? Because it's not on the federal K-1 input?

[Accountant-Man]

Oh, do you mean preparing a 1065 which owns an investment 1065?

Yeah, there it's no so easy.

I haven't used Lacerte since the DOS days.

Sorry for my confusion.

[CEP]

Yes, that is what I mean. 😉Thank you for trying to help. This is a ridiculous flaw on the part of ProSeries.

[Accountant-Man]

Lacerte still requires -1 in order to enter zero.