Business & farm
Working on Pennsylvania resident return using TT Premier CD/Desktop. PA resident is a member of a Virginia S-corp. VA S-Corp does not prepare PA RK-1 or NRK-1. S-corp income is entirely generated from Virginia sources. How do I report the S-Corp income on the PA resident return?
On screen "Partnership Distributive Share Items", it says "Complete the PA Amount column for the following distributive share items from XX LLC" but it gives no instructions as to how to compute the PA amount.
Since the S-Corp income is entirely generated in Virginia, is the PA amount = 0, or is it = to the K-1 income, since PA wants to tax this (as well as Virginia taxing it)?
