Would I have to file a NY and CO state tax return if I’m a Colorado resident but receive a schedule K1 form 1041 from a NY inheritance trust? Would I be taxed twice?

[Irene2805]

Yes - You have income from NY sources, so you need to file a NY nonresident return.  But you won't be taxed twice since you will receive a credit on your CO return for taxes paid to another state.

Be sure that you prepare the nonresident state (NY) return first so the NY taxes flow correctly to the CO return.

[SerenaLyn]

I have been looking into this as well.  I have a SC K1 and they are taking out taxes for being a non resident.  How do I handle this in PA?  The K1 says 2019 even though I just got it last month and the check SAturday!