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Sourcing Income to Specific States for K-1 Passthrough Entities Flowing into Business modules

SOLVEDby Intuit1Updated April 10, 2023

Multi State K-1 Input for Partnerships, S-Corporations, and Corporations Returns

  • Lacerte does not allow multi-state sourcing of most income items from Passthrough K-1 entities flowing into Partnership, S-Corporation, or Corporate returns.
  • These income items are allocated according to state apportionment rules
  • Exceptions to these rule will be indicated by a a state column next to the specific income item inside of the Passthrough K-1 Screen in the appropriate business module.
  • Individual state rules may prevent some of these exceptions.  Not all states use the same rules.

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