I live in California, I received a K-1 Form 1120S which is in Nebraska. Do I have to file this for both states?

wtagart — Tue, 04 Jun 2019 22:52:37 GMT

Before anybody says that I need to use Premier. Deluxe does allow you to enter the 1120S info. I just need to know if I am required to have both California which is where I live and Nebraska which is where the 1120S originated?

http://www.revenue.nebraska.gov/tax/17forms/f_1120sn_book...

maglib — Tue, 04 Jun 2019 22:52:38 GMT

http://www.revenue.nebraska.gov/tax/17forms/f_1120sn_booklet.pdf see page 3-4 for non-resident 1120 Nonresident individual shareholders do not have to file a Nebraska individual income tax return if: u Their only connection with the state is the conduct of the business activities of the S corporation; and u The S corporation has withheld and remitted income tax from all the Nebraska income attributable to the nonresident’s share of the S corporation’s income. The full amount of the income tax withholding, at the nonresident shareholder’s option, is retained in lieu of filing an individual income tax return. Any nonresident may still file a Form 1040N, however, and claim a refund if one is due.

If you do believe based on the reading that you must still file a non-resident Nebraska return:

You will first complete your federal return. Include the S corp income. Make sure you have indicated that you have earned income from another state. Select the Personal Information tab. At the very bottom of the page make sure Nebraska is listed as other state income.

Select the State Tax tab. Complete a non-resident return for Nebraska. Use the Adjustments to Nebraska Income screen to back out the non-Nebraska items. Then you will do a non-resident Nebraska return.

Only after completing Nebraska will you file a CA state return. In CA you may get a credit for taxes double taxed on the same income during the interview.

I hope this was helpful?

Thank you

wtagart — Tue, 04 Jun 2019 22:52:40 GMT

Thank you

you are welcome. Hope the rest of the tax season goes smo...

maglib — Tue, 04 Jun 2019 22:52:41 GMT

you are welcome. Hope the rest of the tax season goes smoothly.

topic I live in California, I received a K-1 Form 1120S which is in Nebraska. Do I have to file this for both states? in State tax filing

I live in California, I received a K-1 Form 1120S which is in Nebraska. Do I have to file this for both states?

http://www.revenue.nebraska.gov/tax/17forms/f_1120sn_book...

Thank you

you are welcome. Hope the rest of the tax season goes smo...