K-1

[mgroote]

I raised this yesterday, however, I cannot find the feed.  I live in Missouri and own stock in an S-Corporation in Iowa.  My only involvement with the S-Corporation is owning the stock and collecting the income.  The K-1 information I received from the S-Corporation includes information that identifies some of the income as "Iowa Source Income".  Am I required to file an Iowa income tax form as well as Missouri?  Or can I include all of the income on my Missouri form and call it a day?  Thanks in advance for any help that can be offered.

[MinhT1]

Iowa recognizes the Federal S-corp election and Iowa S-corps do not pay corporate tax to the state.

You do not need to file an Iowa state return. Your share of the S-corp income is taxed in Missouri.

[mgroote]

Thanks for your help.