DMarkM1
Expert Alumni

Business & farm

As @PatriciaV mentions you do not need to create a NC K1.  The NC K1 is only for entities that conduct business in NC to report/file in NC.  As you mention the partnership is in VA and only conducted business in VA so correctly you generated the VA K1s.  

 

As for your personal returns TurboTax Home and Business is asking for K1 information from the Federal K1 and if you had a NC K1 then TurboTax tells you where to find the information on that form.  You can put $1 in boxes 2 and 3 to generate follow on pages to see the list of potential additions/subtractions from NC income.  Then, if your K1 has some of these amounts you can include them in the appropriate box, otherwise be sure they are blank.     

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post