Hello Turbotax Community,
I am a resident of NJ. I invested in a real estate syndication fund back in Dec 2021 which has apartments in GA. I did not receive any distributions/income during 2021. I got my 1065 K1 over the weekend with a GA 700 form attached to it. As expected, it was a net loss due to the depreciation (-$22,455). See the GA 700 screenshot below. I was able to properly file the Federal K1. But I don't know if I am doing it correctly for the GA nonresident state tax return.
Questions:
1. What does the $22,314 additions, $295 subtraction, and -$436 Total George Income mean? How do I enter these on the Georgia state tax return?
2. Where can I track the unallowed passive loss at the state level? I can only see it on the federal level through form 8582. Is there a similar form in Georgia?
Appreciate any insights you can share.
