LSTAX
Level 4
12-07-2019
07:55 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Do you enter 800,000 with state US and another line 160,000 NY or would that double count the NY S/E income?
Solved! Go to Solution.
Labels
George4Tacks
Level 15
12-07-2019
07:55 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Use the N and S codes next to the US, CA, NY codes. https://accountants-community.intuit.com/articles/1861483-sourcing-income-for-a-multi-state-passthro...
Here's wishing you many Happy Returns
LSTAX
Level 4
12-07-2019
07:55 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Thank you George. Designating N for the fed amount and adding the NY amount with code S did not change fed - good. It increased NY refund and lowered CA refund which I thought would be opposite since it is NY S/E income.
LSTAX
Level 4
12-07-2019
07:55 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
appears to give higher NY refund because other state credit for CA is lower (credit is the same as NY tax) so lower NY tax gives higher NY refund and lower credit for NY on the CA return results in lower CA refund.
