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.