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Entering tax withheld or payments from a Partnership or S-Corp K-1

Intuit

Entering tax withheld or payments from a Partnership or S-Corp K-1

This article will help you enter state tax withheld or state estimate payments from a partnership or S-corp schedule K-1.

For a partnership K-1:

  1. Go to the Income section and then go to the screen, Partnership Info (1065)
  2. Scroll down to the section, Line 15 - Credits and Withholding
  3. Enter the tax withheld in either Credit for state estimates/withholding paid on or before 12/31/YYYY or Credit for state estimates/withholding paid after 12/31/YYYY.

For an S-corp K-1:

  1. Go to the Income section and then go to the screen, S-Corp Info (1120S K-1)
  2. Scroll down to the section, Line 13 - Credits and Withholding
  3. Enter the tax withheld in either Credit for state estimates/withholding paid on or before 12/31/YYYY or Credit for state estimates/withholding paid after 12/31/YYYY.
Note: If entering the withholding in Credit for state estimates/withholding paid on or before 12/31/YYYY, the amount will be carried to the Federal Schedule A if itemizing deductions.  If entering in Credit for state estimates / withholding paid after 12/31/YYYY, the amount will not be deducted as an itemized deduction on schedule A, since the payment was made after the end of the year. This will apply to most states that have withholding on a partnership or s-corp return.

Related Topics

Sourcing Income for a Multi-State Passthrough K-1
How to create a multi-state return
How to enter part-year or nonresident states

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