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Business & farm
I have received only a Federal K-1 (but no WI 3K-1) from the PTP. Per your answer to megsta, there apparently must be no differences in how certain K-1 items are calculated/taxed by WI. However, considering that the PTP is not located in WI and none of the Guaranteed Payments reported on the K-1 resulted from operations in WI, can they be subtracted (as an adjustment) from WI State income? Note: I am a full time resident of WI and already have reported the taxable distribution on my Federal return.
‎June 6, 2019
9:14 AM