Last year CT made LLC taxes optional for out of state residents, using an "alternative basis" on the CT 1065.
TT has that option but last year it would not work and continued to put all income in as CT sourced, even though none was, requiring me to pay CT taxes as as a Massachusetts resident.
I gave up and paid my accountant to do the taxes. She uses Alternative Basis and there was not CT sourced income,so it all "passed through". Doe anyone know why Alternative Basis didnt work last year and has this been fixed?
A few comments:
Thank you for your response The ad is blocking some of this but 1) I called TT 3 times. Once I was routed to individual expert who said of course she couldnt help. Call back. Got same run around 2) I tried 2022 again from scratch using Alternative basis. Same result. I can over ride CT income column and get correct result but not sure there is not another glitch somewhere. I may buy 2023 just to see, or do form by hand on CT pdf. I dont think you can submit it online however. As there are no taxes owed it is sorta s formality, so I may do it by hand and “force “ the numbers in the TT forms. Would be nice to save $350 bucks
Sounds unfortunate.
Since I am not on a Windows environment, I can't see the software; only works on Windows.
Based on your response, I would recommend you just prepare the return by hand and paper file the return. Make sure you send certified mail return receipt requested.
Unfortunately CT will not take paper forms for LLCs and the state web page requires third party software!
Do you know if I overide the automatic TT data and input he correct amount will TT still file electronically?
No. You will not be able to efile if you made overrides. Why can't I e-file my return?