1120S Income from MD and DC

[lucybeltran747]

Hello,

1120 s with two states income, I see DC apportionment , but not MD, when I transfer the info to 1040, I see all taxable income in MD. Is this correct?

I appreciate your advise.

Thanks

[IRonMaN]

I don't know what kind of agreements DC has with Maryland, but if Maryland is the state of residency, all of the income would normally be picked up there with a possible tax credit coming from the nonresident state.  But if you are importing the K-1, the federal imports fine, but you need to "tell" the software there are other states that need to have income reported.

[sjrcpa]

DC doesn't recognize S Corps. That corporation filed a DC Corporate return.

Also, DC does not tax nonresidents so I don't know what you're trying to do with DC.

Finally, MD will give a credit for taxpayer's share of DC corporate tax paid.

[lucybeltran747]

Thank you. Very help full