I received a K-1 for my limited partnership interest in a GA business and am a resident of another state. I've reported the typical interest income from the business but can't see where to record a substantial LT capital loss that was incurred in 2022 from the disposition of property. The amount is almost half the annual net income. In the state allocations, I don't see where to report that loss as it seems to carry over as $0 (as opposed to what I would expect to be the negative long term capital loss amount) from my federal return. The net income reflects the LT capital loss on my K-1 and GA-2 forms, but I'm not sure how to have that reflected when carrying over into the state return. The partnership normally withholds on the correct amount and they are reporting the net income amount net of the capital loss on GA-2 withholding form. However with the way Turbotax is carrying over the loss as $0 it seems that I owe taxes on the interest income with no offset for the LT capital loss and so it would appear that the Partnership has under withheld.
