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Get your taxes done using TurboTax
Thanks for offering your thoughts on my question. It turns out that Hawaii allows some deductions for business expenses that are not allowed on a federal return. As a result, the monetary distribution on the Hawaii Schedule K-1 is often less than the value on a federal Schedule K-1. There is a line on the Hawaii personal income tax form to adjust the Hawaii AGI and rectify the difference. Problem solved. Mahalo.
March 2, 2021
11:45 AM