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mark-leroux
Returning Member

Where to enter the Oregon K-1 information from Schedule OR-K-1

 
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4 Replies
GeoffreyG
New Member

Where to enter the Oregon K-1 information from Schedule OR-K-1

The answer to your question is that you will enter your Schedule K-1 (for Oregon) in the federal side of the TurboTax program, just as you would with any other K-1.  To do this you can locate the Find / Search box in TurboTax, type in the exact search term "k-1" and click the button.  Then you can click on the Jump To link that will appear directly beneath in the search results.  This will take you to the main interview screen where you can input your Schedule K-1 data.  Please see the screen-capture image directly beneath this text for a visual illustration; simply click the picture to open.

If you are a full-year Oregon resident, then this completely takes care of your issue for the following reason.  As an Oregon full-year resident, your Oregon tax will be based on the amount of your federal income (with a few adjustments).  What this means for a Schedule K-1 entry is that the income from this item will be taxable on both your federal and Oregon returns.

If you are a part-year Oregon resident, or an Oregon nonresident, on the other hand, then you will need to be careful as you proceed through the Oregon part-year or nonresident tax return.  You will be asked at some point there if your K-1 income is "Oregon-source" or not, and if so then how much.  You will need to answer those questions appropriately.

Similarly, on any other state tax return in TurboTax, you will need to remain mindful of the Oregon-source nature of this Schedule K-1 income, and then answer the questions carefully in the software program.  This process would be very much the same as W-2 wage income earned in one state versus another state.  You just need to be watchful that such income is being taxed by the "right" state or states.

In the case of this Schedule K-1, it will be Oregon-source income, entered initially on the federal side of the TurboTax program (just like wage income always is).  And the allocation of that income, among states, only becomes relevant if the taxpayer is a part-year or nonresident of the state in which the income is sourced.

Thank you for asking this question.

Where to enter the Oregon K-1 information from Schedule OR-K-1

In the 2016 Oregon state part of TT Deluxe, under Your Additions to Federal Income, it will ask you about Fiduciary adjustment from an Oregon Estate or Trust that may show up on an Oregon K-1 from an estate or a trust.  Entering a number here places it in 'code 132 Accumulation disribution from a trust', but it seems like it should go to 'code 133 Fiduciary adjustments from Oregon estates and trusts' since that's what TT asks about.  I don't know that it matters from a math standpoint as either code category seems to affect the total tax by the same amount.
usagilau
New Member

Where to enter the Oregon K-1 information from Schedule OR-K-1

I received an OR-K-1 for my 2022 tax return. I am not able to find anywhere in my turbo tax (home and business) to make such adjustment. I can find the K-1 adjustment for my CA return but there is no such option under OR. The only options available are Oregon Depreciation Differences and Oregon Passive Activity Loss Differences. 

DaveF1006
Employee Tax Expert

Where to enter the Oregon K-1 information from Schedule OR-K-1

First you will enter this into the federal portion of your return.  I see where you may have done this since you found where to make the adjustment in your California return.

 

It's a little tricky to enter this k-1 as Oregon income.  It was straightforward for California because once you entered the adjustment, the exclusion of the income was reported in Sec B line 5 in the SchC/E/F adj in the California return.

 

For Oregon however, you need to enter this k-1 income as an addition to income.

 

  • Go to the page that mentions here is the income that oregon handles differently.
  • Go to misc adjustments>other additions
  • Then answer yes in the next section
  • You won't see this adjustment in the list of entries given but check the box at the bottom indicating you have an addition to oregon income that has not been entered
  • Now you will see other addition statement.
  • Scroll down in the statement where you see Partnership and S-Corp modifications for oregon and enter your k-1 income here. If this K-1 was issued by a trust or estate, scroll further down in this statement where you see fiduciary adjustments and make your adjustment here.

@usagilau 

 

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