ThomasM125
Expert Alumni

State tax filing

A schedule K-1 would be entered in the federal section of TurboTax and then flow down to the state tax return. If you had income reported on a K-1 schedule, it may be taxable for federal as well as state tax purposes, that is why you enter it in the federal section of TurboTax.

 

You would enter the schedule K-1 in the Federal section of TurboTax, then Business Investment and Estate/Trust Income, then Schedule K-1:

 

 

I believe you have a normal K-1 schedule reporting the income associated with what is also listed on the Connecticut K-1 schedule. If so, enter that in the federal section of TurboTax, and then use Connecticut K-1 schedule to identify items of income and deduction that may have a separate treatment on your Connecticut return.

 

Then, when you go through the Connecticut and federal return, use the information on the CT K-1 to make adjustments for things that get a different treatment on your federal versus state return. For instance, you may have state bond interest that is tax-exempt on your federal tax return,  but your CT K-1 may list interest from out of state that is taxable on your Connecticut return. You would use the information on the CT K-1 to make an adjustment for this when you enter the box 18 amount on your K-1 form entry in TurboTax.

 

 

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