Which column to use from CA K-1 (100S)?

ksvist · ‎May 31, 2019

I'm a CA resident; got income from an S Corp (which had income in more than 1 state).
100S box 1 has amounts in several fields, b, c, d, and e; the amount in d is greater than amount from federal (1120S), but column e has less than half. If I add up the state amounts from other states, column e adds up to about 55% of total; so that seems like the wrong way to go?
But if I use the amount from column d, then CA will think the total amount belongs to CA?

TerryA · ‎May 31, 2019

First, understand that as a Calif resident (and all other states for that matter) Calif gets to tax your worldwide income - it doesn't matter where it comes from, Calif (or any other state) gets to tax it.

The amount you enter into TT/Calif is the column (d) amount, if any. The amount you see on your Calif K-1 column (e) is the "Calif source" $$ and is for use only by Calif nonresidents. So, being a Calif resident, you enter only the column (d) amounts (if any, if not different from the federal amount then leave blank) in the TT/Calif K-1 screen. That's it. You're done with that K-1. Put it aside and move on to the next thing.

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TerryA · ‎May 31, 2019

First, understand that as a Calif resident (and all other states for that matter) Calif gets to tax your worldwide income - it doesn't matter where it comes from, Calif (or any other state) gets to tax it.

The amount you enter into TT/Calif is the column (d) amount, if any. The amount you see on your Calif K-1 column (e) is the "Calif source" $$ and is for use only by Calif nonresidents. So, being a Calif resident, you enter only the column (d) amounts (if any, if not different from the federal amount then leave blank) in the TT/Calif K-1 screen. That's it. You're done with that K-1. Put it aside and move on to the next thing.