Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
jasonhu-id
New Member

I am in a registered domestic partnership and have a K-1. Do I submit that income as community property income?

 
1 Best answer

Accepted Solutions
DS30
New Member

I am in a registered domestic partnership and have a K-1. Do I submit that income as community property income?

If you are in a RDP in California, then your K-1 income will be considered community property and you will each need to include 50% of the partnership interest on your separate federal returns (and the same applies if filing separately in CA).

If the K-1 is in your name, then you will include the entire amount of the K-1 but need to make an adjusting entry on line 21 of your 1040 to income a negative amount for 1/2 of the K-1 income (titled " K-1 adjustment for community property income"). Your partner will need to make a similar adjustment for a positive amount.

(Please note if the K-1 is a loss, then the adjustment will be the reverse of the information above (you would have a positive adjustment and your partner would have a negative adjustment.)

Please click on this link for more information - https://www.ftb.ca.gov/individuals/faq/dompart.shtml

View solution in original post

5 Replies
DS30
New Member

I am in a registered domestic partnership and have a K-1. Do I submit that income as community property income?

Are you filing jointly? Or are you filing separately and live in a community property state?
jasonhu-id
New Member

I am in a registered domestic partnership and have a K-1. Do I submit that income as community property income?

@TurboTaxDeeS Filing separately in California
DS30
New Member

I am in a registered domestic partnership and have a K-1. Do I submit that income as community property income?

If you are in a RDP in California, then your K-1 income will be considered community property and you will each need to include 50% of the partnership interest on your separate federal returns (and the same applies if filing separately in CA).

If the K-1 is in your name, then you will include the entire amount of the K-1 but need to make an adjusting entry on line 21 of your 1040 to income a negative amount for 1/2 of the K-1 income (titled " K-1 adjustment for community property income"). Your partner will need to make a similar adjustment for a positive amount.

(Please note if the K-1 is a loss, then the adjustment will be the reverse of the information above (you would have a positive adjustment and your partner would have a negative adjustment.)

Please click on this link for more information - https://www.ftb.ca.gov/individuals/faq/dompart.shtml

View solution in original post

jasonhu-id
New Member

I am in a registered domestic partnership and have a K-1. Do I submit that income as community property income?

@TurboTaxDeeS Thank you!
DS30
New Member

I am in a registered domestic partnership and have a K-1. Do I submit that income as community property income?

You are very welcome 🙂 (I meant to say your partner above - I edited my typo.)
Dynamic AdsDynamic Ads
Privacy Settings
v