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I am a resident of California and have a K-1 form for income from Nebraska. I have entered the federal K-1. When I look at my state forms, the K-1 information has transferred to state K-1 forms for California, but not for Nebraska. Since I need to pay taxes to Nebraska for that income, I need the K-1 forms to to be included in the Nebraska return. How do I get Turbotax to do that?
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In order to get the right information onto both state returns, you may need to delete the state returns and enter the information again, preparing the nonresident Nebraska return first. Then, refer to the net liability for the Nebraska nonresident return when you prepare the California return. Line 33 of Nebraska Form 1040N is your tax liability after nonrefundable credits and before payments. See this Franchise Tax Board webpage for more information about the Other State Credit.
Nebraska Nonresidents and partial-year residents must file a Form 1040N and a Nebraska Schedule I to compute the Nebraska tax due. See this Nebraska FAQ page for more information.
Credit is allowed on your California return for net income taxes paid to another state (not including any tax comparable to California’s alternative minimum tax) on income that is also subject to California tax. The credit is applied against California net tax, less other credits. The credit cannot be applied against California alternative minimum tax.
Please also see this TurboTax tips article for more information on filing returns with multiple states.
Thanks Monica,
I snail mailed my Nebraska return yesterday, so at this point it's a question for next year.
I did originally download, install and run the Nebraska Turbotax extension before even downloading the California extension, with the results I described. Is there anything else I could try?
Last year I also ended up snail mailing my Nebraska return because the the Nebraska Turbotax extension did not include a way to enter PTET on the K-1N form. I was hoping to see that fixed this year, but am left wondering.
You're welcome!
I don't have information on future form developments, but see this Nebraska webpage for Nebraska PTET FAQs.
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