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eileenfinke
Level 2
April 11, 2026
Question

K1 's

  • April 11, 2026
  • 1 reply
  • 105 views

With the K1's against the rental income we have a negative balance of  -166813.   Do I just put "0" on Schedule 1 line  5,  which then goes to 1040 line 8.   . Should I do the same with the NYS non resident form IT203 line 11 and 12?

 

    1 reply

    PatriciaV
    PatriciaV
    Level 15
    April 12, 2026

    If your total income from Rental Real Estate and other passive entities is zero, your NYS non-resident return should not report any income from these sources. TurboTax will transfer this information automatically when you begin your state income tax return.

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