Schedule K-1 loss from a different state. TT is assuming the K-1 is from my state.

[jkiclimber]

I reported a long term capital gain loss on my federal return from a K-1. My state return is asking me to fill out the equivalent field in my state (AZ) K-1. However, the K-1 I received is from CA. What do I do?

[PatriciaV]

Yes, even though your Schedule K-1 business is located in another state, the income reported to you is income in your home state. For this reason, you enter the information from Schedule K-1 for both your federal and resident state tax returns.

[jkiclimber]

Let me clarify my situation. I am a beneficiary of a trust, which is why I received a K1. There was no income reported on the K1, only a loss. TT is asking for certain values from an AZ K1 form. Do I use values from the federal form to replace what would have been on the AZ form?

[PatriciaV]

If you did not receive an Arizona Schedule K-1, you have nothing to enter for your state tax return. A California company would not send you an Arizona K-1.

[friedmannicholas]

Same Question TT. I don't feel you answered this question.  a) Individual is an Arizona Resident b) Individual receives a W2 for his primary employment for AZ State and Federal. c) Individual received a K1 for Federal and CA State (as company that issued, which individual owns shares in - or is a beneficiary of, is a CA company)  d) Individual files AZ (AZ filing only has AZ W2 - as individual did not receive an AZ K1 due to share holding company/trust is a CA company) and Federal taxes returns (federal filing includes Federal W2 and K1).  e) What does individual need to do with a CA K1 that has a loss on it?

[Teatime_Turtle]

I sure wish someone knew the answer to this. This is the exact predicament I find myself in.