I've entered several form 1065 K-1 data into Turbotax. I'm a NC resident and have also received an NC K-1 with values in boxes 1, 2 and 3 only. After entering these, the Turbotax state error checker keeps flagging NC P K-1 D-403 Schedule K-1, line 7 must be equal to your entry on NC K-1 Owner or Beneficiary's Share of N.C. Additional Worksheet line 15, Col B.
It's throwing up the same error message for all 3 in-state K-1s. I have other out of state K-1 too. On the step-by-step workflow, Turbotax keeps highlighting Part 3 Box 7 (portion of line 2 above attributable to NC Source income) which is for non-residents.
I'm not sure how to proceed.
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Thank you
I did not receive a specific NC K-1, however there are State Information Schedules for the 3 separate PTPs under Energy Transfer. I am a limited partnership in this PTP, with an ending profit/loss of 0.000024%. Do I need to do any adjustments to the NC K-1 forms in Turbo Tax Deluxe?
You should have received NC K-1 with your K-1 package for the PTP. Please follow up with the preparer of the PTP return to see if the NC K-1 should have been provided to you.
You will need this to prepare your State return correctly.
See the information in the link below:
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