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[Event] Ask the Experts: Extension Filers
Yes, if you received state-specific Schedule K-1s, you may need to file nonresident state tax returns depending on the source and amount of income reported in each state.
You generally need to file a nonresident state return if:
- The K-1 shows income sourced to that state, and
- The income exceeds the state’s filing threshold.
You should check the tax rules for each state listed on your schedules. Some states require you to file a non-resident return if you have even a single dollar of income from that state. Others have a minimum income threshold (e.g., $1,000 or more) that you must meet before a filing is required. If the K-1 shows losses or minimal income, you may not need to file in that state.
Some states allow composite filing, where the partnership files a single return on behalf of all nonresident partners. If your partnership did this:
- You may not need to file individually in that state.
- Check your K-1 or contact the partnership to confirm.
On your resident state return, you'll get a credit for that payment to the non-resident states, so you're not paying tax on the same income twice.
@user17577204458 Thanks for the question!!
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