I have multiple Schedules K-1 with income from real estate investments located in different states.
I noticed that when I go through the State Return within TT Online (e.g. Arizona, California and North Dakota) there are two different places where I am asked about income from partnerships, as follows:
1. As part of entering / updating my Schedule K1, I have already specified all the income/deductions/adjustments attributed to the state in question.
2. In addition to the schedule K-1 that was already entered, there is another section that shows all the federal income categories and requires me to specify how much of each is attributable to the state in question.
For example, Arizona has a line item called "Rents, Royalties, and All K-1s"
My question is: for that field, since I already entered the Arizona portion of the income from the schedule K-1 itself, do I need to enter it again in this field? Or will TT automatically add those numbers from the various K-1s later?
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Check back. I'll page @mikeo9241 to see if he has any input.
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