I am working on my Indiana IT-20S return for my LLC (taxed as an S corp) using TurboTax Business, and I am the sole shareholder and employee of the business. I moved out-of-state part-way through the year in August 2023, both my family and the business, so I am filing with my new address in a non-Indiana state, both as shareholder and the business now being out-of-state.
The issue I'm running into is that it looks like it would now be a composite return, since me, the sole shareholder, is a nonresident of Indiana.
Because of that, it wants me to pay taxes when filing the IT-20S based off the total AGI for the full year, and I'd also be paying Indiana state taxes when I file my personal return because of Sch K-1. That doesn't seem quite right, so I'm inquiring as to what to do.
I currently have NOT filled out Schedule E - Apportionment of Income, and not sure if I need to or not, but even if I did, I'd still be paying taxes on the Indiana income with the IT-20S, and paying again on my personal return.
Help??
