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?
02331
2 Replies
zephyr2u
New Member
Feb 28, 2021 1:24:46 PM
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.
rpuhalla
Returning Member
Mar 2, 2021 12:38:11 PM
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.