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sam-gbos
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How do I file my Schedule-K1 if I live in a different state from the LLC?

I am a partner in an LLC that operates out of Colorado, but I am a Pennsylvania resident. I received a schedule-K1 which says that "Shareholder/Partner is included in composite non-resident tax return" and shows that taxes were paid on my behalf in Colorado. How do I enter this on my PA taxes?

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1 Reply

How do I file my Schedule-K1 if I live in a different state from the LLC?

Since you were included in a CO composite tax return you are not required to file any CO nonresident tax return.

Additionally, you are able to claim this tax paid on the federal return Sch A.

Finally, PA allows for a credit for taxes paid to other states for income also taxed in PA.  You will need to completed form PA-40 G-L.  See the attached form and instructions:

http://www.revenue.pa.gov/FormsandPublications/FormsforIndividuals/Documents/Personal%20Income%20Tax...

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
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