Mississippi 2013: K-1 Income or Loss
On a Mississippi tax return, a taxpayer must include income or loss from a partnership K-1, S corporation K-1, trust and estate K-1 in Mississippi income.
Certain Mississippi customers, who had net income or loss reported on a K-1 from a partnership, S corporation, and/or trust and estate, may have filed an incorrect state tax return.
TurboTax has fixed this issue.
How to tell if you may be impacted
You may be affected if all of the following apply to you:
- You filed your Mississippi return prior to 3/11/2014 AND
- You had one or more K-1(s) from a partnership, S corporation, trust and estate AND
- There is no income/loss amount reported in Part 4, Line B of Mississippi Form 80-108, Adjustments and Contributions.
If you are affected, you may have overpaid or underpaid your Mississippi tax. You may need to amend your Mississippi return.
To amend your return:
- Follow these step-by-step instructions.
- After you make the changes to your tax return, you will need to mail a copy of your amended state return.
- Your printed return will include instructions on how and where to mail it.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the Mississippi 2013: K-1 Income or Loss.