Sign In
mvann
New Member
Member profile
Activity Feed for mvann
- Posted Re: Need help producing K1's for S-Corp that operates in multiple states on Business & farm. October 11, 2019 2:56 PM
- Posted Need help producing K1's for S-Corp that operates in multiple states on Business & farm. October 11, 2019 9:41 AM
October 11, 2019
2:56 PM
Hi Tagteam and thanks for the prompt reply. I was anticipating filing S-Corp state returns using the apportionment rules they require (AZ and CO in this case). But I was also under the impression that the federal K1's issued by the S-Corp to its shareholders should either be per state or at least schedule out receipts or net income by state as well. If it is a simple as providing a separate schedule to shareholders based upon the S-Corps state returns so that those same shareholders can file their individual state returns, then that is all I need to know. Thanks again.
... View more
October 11, 2019
9:41 AM
I'm trying to determine how to allocate net income/receipts by state on K1's produced by my Turbo Tax Business software. Sounds like it is acceptable to either produce separate K1's by state or at least itemize either net income or receipts by state to facilitate shareholder's completing required personal returns for each state but I cannot determine how to accomplish this in TurboTax. Thanks in advance, Mike
... View more
Topics:
