Schedule K-1 Statements for an estate

[Don423]

I live in Pennsylvania. I have received the  final k-1statements from an estate in Massachusetts. The first was form 1041 for federal. I put that in the k-1 section. Where do I put the schedule k-1 from Massachusetts or do i even have to.  Thanks

[DaveF1006]

It depends. To clarify, are these two separate K-1 statements or the same statement that is prepared in duplicate, one for the federal, and one for the state.  Check to see if the numbers are identical on both forms because when you report it on your federal return it should populate in your state return as well. 

[Don423]

These are 2 separate k-1 statements. The federal k-1form 1041 has amounts in line11with letters a and b. The schedule 2k-1 from Massachusetts has an amount in line 5 for mass. bank interest. Do I put the 2k-1from mass. In fed k-1 area also and pa state picks it up, or do I owe the bank interest to Massachusetts.

[gloriah5200]

It depends on the situation. Was the financial institution where the interest was earned located in MA?

Compare the amount of bank interest reported on the MA k-1 with the federal amount of bank interest.  If it is the same, then you would report it all as MA bank interest on the MA return.  If not, then you would report the MA amount as MA bank interest and the remainder as Not MA bank interest.

If the interest is earned from MA, then you can enter it that way on the federal return and it should flow through to the MA return.