First year doing the K1 for Federal - two different returns for two different LLC - Turbo Tax allowed me to file these without any issues - on to State which I want to confirm:
1st LLC setup in North Carolina - one member NC other member IN
Completed the NC K1, it was a loss as it's first year STR.
Do I need to do an IN K1 for the other member as non resident loss for pass through or do they just claim it on their IN state as nonresident loss from K1?
Second LLC same except 1 member in VA 100% of P&L to that member - incorporated in VA, but the property earned income in NC - registered as foreign entity in State of NC - K1 done for NC state - do I need to do the K1 for VA as no other income other than the NC property STR claimed and submitted on NC K1. Member should report income as K1 from another state?
