PatriciaV
Expert Alumni

State tax filing

If the image you posted contains all the entries for Schedule K-1 Boxes 1 through 20, then you have no capital gain/loss. You have Ordinary Income and Net Rental Real Estate Loss. 

 

If the total federal Business Income is generated by a Schedule C business outside NC, you would not enter the K-1 amount in that box for NC. Likewise for the rental income -- if you recognize that the federal total does not include the amount from the K-1.

 

Instead, add Box 1 and Box 2 then enter the result in the K-1 Partnership Income in the NC column. This should be the amount shown in Section L as Current Year Net Income (Loss).

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