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New Member
posted Jun 3, 2019 1:47:47 PM

How do I assign a K-1 as income from another state?

I do not live in Iowa, but am a limited partner in a business there. How do I assign the whole K-1 to Iowa, so that I don't pay taxes on it in the state I live in?

0 6 2102
6 Replies
Intuit Alumni
Jun 3, 2019 1:47:48 PM

In the Personal Info section, you will indicate that you have income from another state on your return, see image attached.  Adding this to the federal return will trigger a non-resident return for IA.  When you do the state returns for IA and your home state, you will be given the opportunity to allocate your income between states.  Do the Iowa return first, allocate all of the K-1 income to IA and then on your home state return and allocate $0.  

New Member
Aug 7, 2020 4:47:18 PM

I didn’t do my CA Non-resident ITR FIRST.  I calculated my AZ ITR first.  Now how do I allocate my 2 k-1s to California?

Not applicable
Apr 13, 2022 10:59:07 AM

What if the other state does not have income tax? How do you allocate the income of the k-1 to that state?

Expert Alumni
Apr 17, 2022 6:12:02 AM

You do not have to allocate income to a state that does not have an income tax @Anonymous. Skip that state.

Not applicable
Apr 17, 2022 8:34:01 AM

Now, all the income is allocated  to the state with income tax. How do I allocate only the income from that state in its tax return?

Expert Alumni
Apr 18, 2022 9:25:16 AM

It would help us if we know which state(s) returns you are preparing.  After completing your federal return, TurboTax recommends preparing your non-resident state first.   Because it appears you need to allocate a portion of your total income to the state that has an income tax, TurboTax will have a screen where you can enter the amount to allocate.  Follow-up with your state information.   

 

@Anonymous