I live and work in CA and I am a limited partner in a LLC registered in New Jersey. I received a distribution from the LLC in 2020. I received my 2020 K-1 documents from the LLC, which included two state tax forms, Schedule NJK-1 for NJ, and IT-204-IP for NY. Do I need to file nonresident state tax forms for NJ and NY?
Additionally, any idea why I received a form for NY?
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New Jersey requires nonresidents to file if Single and with gross income from everywhere for the entire year more than $10,000 or Married with gross income from everywhere for the entire year was more than $20,000. (so it is based on your overall income)
For New York, a nonresident with New York source income must file if New York adjusted gross income exceeds the New York standard deduction.(Click to see amounts)
If the LLC had business conducted in New York, they are required to issue the NY form.
Thanks MaryK1101,
Just wanted to confirm NJ is based on gross income, NY is based on New York state sourced income?
Correct, gross income in New Jersey and only New York-source income for New York.
I have a similar situation CA resident filing Non resident K1 for NJ and NY.
I have NJK-1 and IT-204-IP, however I cannot find IT-204-IP in Turbotax premier?
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