Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
shav
New Member

I live in CA and I am a partner in an LLC that is exclusively in CO. I've prepared a CO non-res return. Do I also need to report the LLC income to CA?

The LLC tax accountant has provided a Federal Form 1065 (Schedule K-1) which I have entered into the Federal section of TurboTax.  They also provided a Colorado Form 106 (Schedule K-1 equivalent) which I have used to fill out a Colorado Non-Resident form within TurboTax.  My question is, since these earnings are being reported to CO and I have not been provided with a California K-1 form, should I zero out the CA entries that TurboTax has auto-populated based on my Federal entries?  For reference, I've done it both ways and it's not affecting my CA taxes due.  I just want to make sure I do the right thing in terms of reporting.
1 Best answer

Accepted Solutions
RichardK
New Member

I live in CA and I am a partner in an LLC that is exclusively in CO. I've prepared a CO non-res return. Do I also need to report the LLC income to CA?

Yes, you include all your income on your resident California tax return.

View solution in original post

1 Reply
RichardK
New Member

I live in CA and I am a partner in an LLC that is exclusively in CO. I've prepared a CO non-res return. Do I also need to report the LLC income to CA?

Yes, you include all your income on your resident California tax return.

Dynamic AdsDynamic Ads
Privacy Settings
v