For the first LLC you'll issue a NC K-1 to all the partners regardless of whether they reside in NC. It will be up to any of those partners whether they need to file a NC return in order to claim their loss or - in future years - are required to file a NC return because of their gain. You IN partner will pay taxes or claim losses from his federal K-1 on his IN return.
For the second LLC you will need to file a return for the LLC in NC and then in Virginia as well. File the NC return first and issue all partners NC K-1's. Then file the Virginia return and issue Virginia K-1's to all partners from that. Based on the amounts on those K-1s each partner will have to decide if they have any filing requirements for those states.
@msd7011
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
