My s-corp paid my nonresident share of NC income tax, per the K-1. How do I enter this amount in the NC Form D-400, Line 21d using TurboTax Online Self-Employed 2018?

Forum|Forum|7 years ago
June 1, 2019
7 replies
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TurboTax Self Employed Online

TerryA

Level 8

All state income taxes paid are entered in the federal return so that they can be included in federal itemized deductions. TT/States pick up what belongs to them from the federal return.

State income taxes paid for you should be on the federal 1120S K-1 Box 13 Code S, Other deductions. When you enter a Code S amount you are taken to where you enter the detail(s). One of those is State income tax withheld. You would enter the state ID, NC in your case, and the $$. TT/NC picks it up from there.

bgunness

Level 2

Business K-1 state taxes are NOT deductible on Fed Form Schedule A, Line 5--State Income Taxes(only NON business state taxes).

True??

clumsden

Level 2

I received a form 1065 K-1 for a LLC that I own.

Attached is a D-403 NC K-1. On that form on line 7 they show an amount of tax paid on my behalf.

How do I enter this deduction either into my federal of my NC taxes.

I am consider a non-resident of NC so the entire amount in line 7 should be refundable.

thanks

curt

ThomasM125

Level 15

Even if you are not a resident of North Carolina, income from North Carolina sources would be taxable in North Carolina. That is why the company paid the tax, so I don't believe it is refundable.

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