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mrugeley
New Member

I have an LLC and Schedule C that has income and expenses that need to be allocated to two state returns due to a move. How do I record this on TurboTax?

 
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ChristinaS
New Member

I have an LLC and Schedule C that has income and expenses that need to be allocated to two state returns due to a move. How do I record this on TurboTax?

You do this within the state interviews of Turbo Tax. The Business tab prepares the federal Schedule C, and does not address state allocations. In the event of being a part-year resident of 2 or more states, numerous federal items would need to be allocated within the state portion of the program or website.

Every state is a little different so far as how it approaches business income and the information it requires, so you may have state-specific questions as you go through the questions. Some states will merely ask for a net income (loss) attributable to that state, requiring just a single figure, while others will require a more detailed accounting of the allocation.

We are happy to address any specific questions/ concerns as you navigate through this process.

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