How do I interpret and enter my Georgia Form 700 Schedule K-1 (nonresident state tax return)

[jkm88]

@tony2921 Checking to see if you were able to resolve your GA K1 problem.

I need to amend my 2021 returns and have been trying to tinker around how to enter the Georgia K1 form.

I posted this question on the forum last night.  Not sure if this is the correct way to do it.  I am still waiting for some feedback.

State Level K1 (GA) - Am I entering this the right way on TurboTax?

Would be curious to hear as well others' opinions/feedback.

@alta-tax1 @MarilynG @DavidD66

[sskale1]

Folks:

I am following on this thread and have a follow-up question.

How do you report passive losses from past couple of years for GA?

The manuevrs you mentoined in the earlier emails do they count as passive losses for 2023?

I tried doing this earier and gettor an error in SAchedule 3 because column A needs to equal columns B + C and that does not seem to match. Can you please elaborate?

Also, a CPA told me that NOL is not  the same as passive losses.  I  only see passive losses in the activitiy worksheet for that LLC part III item 6 but these do not seem to carry over to any form.

The CPA told me to use form 8582 to report the pasive losses and I am not sure if I can use the Federal 8582 and write GA  on it to report the passive losses for 2023 and the previous years. I was hoping to reconcile the informaiton to that on Form 700.

Hope you reply soon.

Thanks,

[sskale1]

Folks:

I had similar issues with GA FOrm 700 on my K-1 for 20213 tax return.

I added the depreciation adjustments as you folks stated in the TT input,

However, when I enter the net GA income at the bottom of my GA700, (which are my passive losses)

it gives from an error in Schedule 3 since there is the sum of all the Fedral income (column A line 7 does not match income not taxable in GA: Col B line 7,  GA income.  There seems to be no way around this?

Would appreciate any help.