I filed my state business taxes oweing 4000 on my partnership
When I brought my K1 from the business into my personal
it causes a large state income tax owed increase
It seems, if I pay the state the amount owed on my business tax
the K1 should not raise my personal income state tax because I already paid it on the business
which is what cause the personal owed to increase a lot
You'll need to sign in or create an account to connect with an expert.
If you have already paid the state income tax on the income reported on Schedule K-1, enter this payment under the State income tax section. There should be a topic for estimated or paid taxes where you can report this payment.
Generally, however, the income from Schedule K-1 is taxed at the partner level and paid by the partner, not the partnership/LLC.
Im using TurboTax Primier 2022
Under State Taxs
Tell us about your State Schedules K-1
I dont see any place to put taxes paid from the business which would reduce my personal
state income tax
You can report the taxes paid on your behalf under the Federal section of TurboTax. Go to Deductions & Credits and scroll down to Estimates and Other Taxes Paid (you may need to choose "Show More.")
Return to the State Taxes topic and run the State Review to see if your tax liability has changed.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
taxpayer91
New Member
Jjone
New Member
lac528
Level 2
NS1
Level 3
denn59
Level 1
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.