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How do I avoid double taxation from K-1s for CT and NJ as beneficiary of an estate?
I received a K-1 for both NJ and CT as beneficiary of an estate. The CT-1041 K-1 had the income under the CT Sourced Portion. The NJK-1 listed only the total distribution amount. When I temporarily removed the K-1s from the Federal, NJ, and CT returns, I saw the amount I am paying to NJ and CT combined is nearly double my tax rate for NJ or CT. How do I fix this in TurboTax, etc.?
‎February 28, 2023
7:50 PM