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Level 1
April 14, 2020
Question

K-1 S-corp passthrough

  • April 14, 2020
  • 1 reply
  • 5 views

I was filling out K-1, tax due is outragous, went to state tax said I have twice the capital gains in Fex tax i entered. how do i fix this?

    1 reply

    April 14, 2020

    what state?  in many cases all the info flows from the federal so there's no need to enter state.  as a matter of fact entering data in state section for those returns will double up your state income.