3007036
Turbotax for 2022 on windows. I received a K-1 for state of Arkansas (as well as federal). I am a limited partner in a real estate investment fund. The fund sold a property in Arkansas. The Arkansas K-1 shows "unrecaptured section 1250 gain" (box 9a) and "net section 1231 gain" (box 10a) and an Arkansas income tax withheld (box 20a). I am using TT to file US and a nonresident Arkansas return. I entered the federal K-1 info into TT for the US return. When entering Arkansas nonresident return details, TT did not prompt me anywhere to enter any Arkansas state income tax withheld. Shouldn't TT be prompting me for Arkansas K-1 state income tax withheld as part of the Arkansas nonresident return?
You'll need to sign in or create an account to connect with an expert.
Any adjustments required for your State K-1 are made during the State interview, typically in a section for items that are taxed differently by the State. Be sure you have entered Schedule K-1 in the Federal Tax section first.
Go to the State taxes topic and start the interview. Look for questions like "Schedule K-1 adjustments that increase income" and "Schedule K-1 adjustments that decrease income."
Although the information you entered for the Federal K-1 is carried over to the State return, the adjustments you need to make should be provided on the State K-1.
Thanks for the reply. None of the TT state returns for Arkansas, Oklahoma, and Louisiana prompted me to enter state K-1 taxes withheld by the partnership on my behalf. Based on a reply from another experienced person like yourself, I went into "form mode" and manually entered the state taxes withheld for all three states. I also had to enter the income (section 1231 capital gains) as well in "form mode". Manual entry did the trick. At least for these three states, TT is lacking the prompts to enter the K-1 income and taxes withheld. I am disappointed in TT ... big deficiency in TT for state K-1s! Bu thanks for the guidance.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
sumi398
New Member
pcld5872
New Member
Hidjeff
New Member
chakilamshvia
Returning Member
preisedj
New Member