Receiving multiple states K-1s when the property is resided in another state

[Naomiychan]

Hi, I am a resident in California. I invested in multiple real state properties through an online crowdfunding platform. Some of these real state properties I invested in have sent me multiple states K-1s when the property is actually in another state. For example, Property A is in Pennsylvania but I got Georgia, Indiana, Missouri and New Jersey's K-1s instead. What am I going to do with all these states K-1s? Should I ignore them or file them one at a time? I would say I have at least 15 states to deal with. Currently, I am using Turbotax Premier and feel overwhelmed with all these states K-1s.. Any help would greatly appreciated.

Thank you very much,

Naomi

[LEG_EA · Accepted solution]

Hi @Naomiychan,

The most important thing will be verifying the filing requirements for each state.  You may or may not have to file a tax return.  It will all depend on each state.  These are some basic considerations when it comes to multiple state filing:  Multiple States—Where To File.

I definitely don't recommend to ignore it because if you got a K-1 that means that the state got a K-1.

You may even have to consider tax reciprocity.  Here's more information about that:  Which states have reciprocal agreements? 

If it gets too complicated for you, remember that you can contact a live expert while you are preparing your taxes for guidance.  Also you can use the "do my taxes for me" and an expert will take care of it for you.