Fed K-1 reports loss, State K-1 reports income

JinxyCat86 · ‎10-09-2021

I'm stuck. Client received a K-1 showing a Federal loss (-$20K for example), which includes only one non-resident State K-1 that shows income ($5K for example). How would you go about reporting the state K-1 activity?

dkh · ‎10-09-2021

Your state program has a worksheet for K1 activity to allow for adjustment differences between federal to state