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?
You'll need to sign in or create an account to connect with an expert.
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.
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.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
LGW2
Level 1
TheWisdom
Level 3
carolynt2
New Member
tsatloff-gmail-c
New Member
Pendleton
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.