topic Federal-State wages on Schedule K-1 are different in Self employed

Federal-State wages on Schedule K-1 are different

rpuhalla — Sun, 28 Feb 2021 01:48:54 GMT

How do I report Schedule K-1 wages on a state tax return when the values are not the same? Turbo Tax indicates that my state wages are less than my Federal wages. Do I override the AGI and if so, by how much?

Re: Federal-State wages on Schedule K-1 are different

zephyr2u — Sun, 28 Feb 2021 21:24:46 GMT

My K-1s also so a distribution of "wages" for all employees, not just the corp. holers W-2 amounts. I don't understand that? Why would the K-1 show ALL of the wages when the shareholder's portion was much less.

Re: Federal-State wages on Schedule K-1 are different

rpuhalla — Tue, 02 Mar 2021 20:38:48 GMT

Sorry. I cannot help you with your question. I own a partnership with no employees and no W-2s; just Schedule K-1s for my wife and I. Good Luck.