topic Nonresident state returns for K-1s in State tax filing

Nonresident state returns for K-1s

pmt1 — Sat, 10 Oct 2020 22:40:16 GMT

What is the best way to look up the various state thresholds for filing a nonresident state return for state K1 forms that are included with a Schedule K-1 (1065)? For example, is there a way to lookup what to do with ordinary losses and capital gains on California's K-1 (568)? Thanks in advance.

Re: Nonresident state returns for K-1s

Anonymous_ — Sat, 10 Oct 2020 22:49:55 GMT

A link to the California FTB appears below.

https://www.ftb.ca.gov/forms/2019/2019-540nr-booklet.html#19_540nr-2

Typically, you would do an internet search for the particular state's web site, most commonly the department of revenue or secretary of state.

Re: Nonresident state returns for K-1s

pmt1 — Sat, 10 Oct 2020 22:59:26 GMT

Thanks. Not sure this applies to California sourced capital gains (reported separately from ordinary income and losses)? Ordinary income is in line 1 while short and long term capital gains are lines 8 and 9.

Re: Nonresident state returns for K-1s

pmt1 — Sun, 11 Oct 2020 19:36:24 GMT

I don't think this answers the question as to how to treat California source amounts from the state K1 (Form 568). I am not talking about ordinary income in California (this is passive investment income on the K1). Both the income (in this case a loss) and the capital gains are reported on my resident state tax return. I am wondering if I also need to file a California non resident return for the source amounts to California.