How in Turbotax Home and business do you report Minnesota withholding to be reported from K-1?

rmsweet — Mon, 03 Jun 2019 18:39:26 GMT

Phone advice was to report the withholding as estimated taxes paid which resulted in a 2017 audit. Was just given same advice.

If you enter all the information from the K-1, the taxes...

IreneS — Mon, 03 Jun 2019 18:39:27 GMT

If you enter all the information from the K-1, the taxes withheld will automatically flow to the state return. There is no need to make a separate entry elsewhere for the MN withholding.

You didn't say whether the K-1 was from a partnership or an S-Corp. The steps are the same, but the box numbers vary:

In a K-1 from a partnership state withholding is reported in Box 13, Code W
In a K-1 from an S-Corp, state withholding is reported in Box 12, Code S

To make the entry for state taxes withheld, follow these steps:

When in the K-1 interview, you will see the screen, Enter Box 13 Info.
Select W from the list and enter the amount.
On the next screen, Enter Code W Detail, mark the box Taxes and State Income Tax Withheld
In the section below the grey line select the State Name from the list and enter the amount listed in Box 13 Code W.

This figure will automatically flow to your state (MN) return.

If the K-1 is from an S-Corp follow the same steps, using Box 12 and Code S.

You are an angel ! Turbo Tax did not have any answer whe...

rmsweet — Mon, 03 Jun 2019 18:39:29 GMT

You are an angel ! Turbo Tax did not have any answer when I called them the last two years.

topic How in Turbotax Home and business do you report Minnesota withholding to be reported from K-1? in Get your taxes done using TurboTax

How in Turbotax Home and business do you report Minnesota withholding to be reported from K-1?

If you enter all the information from the K-1, the taxes...

You are an angel ! Turbo Tax did not have any answer whe...