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I live in IN but have a K-1 from an S-Corp that needs to be filed for OH, IN and KY. How do I get those multiple states filed?
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posted
June 4, 2019
4:24 PM
last updated
June 04, 2019
4:24 PM
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I live in IN but have a K-1 from an S-Corp that needs to be filed for OH, IN and KY. How do I get those multiple states filed?
A couple of comments:
- Make sure you understand what the S corporation has done with respect to those states; did they withhold taxes on your behalf or were you included in a composite that return. If the later, you don't have any filing requirement in those states in which you were included in a composite tax return (unless of course you have other income in that state).
- To file in those states, you will need to download each respective state software keeping in mind that each state will be an additional cost to you.
- You will need to file as a nonresident in Ohio and Kentucky.
- For Ohio and Kentucky there will be a specific form where you will reflect income everywhere and then income apportioned to Ohio / Kentucky depending on which return you are preparing.
- You will then be taxed on the respective state's apportioned income. If the S corporation withheld tax you will then use this to offset any of the liability. You will then pay the difference or receive a refund.
- Prepare the Ohio and Kentucky returns first. On your Indiana tax return you will complete a schedule for taxes paid to other states. You will need some information from the Ohio and Kentucky returns in order to complete this.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
June 4, 2019
4:24 PM
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