The NC D400 PN form is for part year NC residents to declare what portion of their federal income was earned in NC.
I own the S-corp and made almost all of the revenue while not living in NC. If I divide NC Revenue / Gross Revenue I get 4%.
If I go by months, I lived in NC 5/12 months, so I get an apportionment of 42%. 10x as much!
If I run a Profit and Loss statement for my S-corp for the time I lived in NC, it actually shows up as a loss!
So which is the proper way to determine apportionment? Turbotax offers no guidance.
