pat
Level 5
04-13-2021
01:07 PM
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Should I delete the state under Client Info? Will I lose any Michigan carryovers associated with the K-1. The 2019 General Info includes Michigan carryovers for the Basis Losses - State Amounts.
He received a MI K-1 for 2020 but it has no income on it, just reporting the tax basis capital account. No other activity in the LLC. There may be activity/income in future years.
Is there a way to see the effect of this without having to REP the Michigan forms? I don't want to incur the REP fee for a return I will not be filing.
TIA
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