How To Report Georgia (and other states) Gains For Final K-1 Nonresident

[FTD0420]

I am posting this as a separate thread because it is different the another question I have seen asked.   I received a Georgia Final Schedule K-1.   What gets reported as income or gains because there is no total amount applicable to the state line on the form?   The amount listed I understand is my share of the entire partnership 1231 gains in addition to the income losses, but I do have basis even at the end of the partnership.  My final distribution amount is not listed.  Can anyone enlighten me how to handle what values I would enter?  It seems odd not to be able to deduct my basis.  My only other thought is to divide my Georgia gains by my total distribution to get a percentage, and then multiple my overall final partnership gain by the percentage as the amount to report.

[GeorgeM777]

Have you completed your federal return and entered this K-1 on your federal return?   If not, do that first.  Then when you get to your GA non-resident state return, you will have the option to add and/or substract income from your GA return.  For example, in the GA section of TurboTax, you should see the screen Here's the income that Georgia handles differently.  In the Miscellaneous section click on Start/Revisit box next to either:

• Other Additions to Georgia Income -  Additions are items that get taxed on your Georgia return but not on your federal return and increase the income that Georgia will tax.
• Other Subtractions from Georgia Income - Income that is not taxable for GA purposes that was reported on your federal return.

Then follow the on-screen instructions.

@FTD0420