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Partnership K-1: non-conforming state bonus adjustment

Level 1

from the K-1:

box 1: (65,000)

box 20Z5:  (53,000) non-conforming state bonus adjustment.  Instructions read "this adjustment is the entire amount of allocations attributable to the Partnership's joint-ventures included in Box 1 of the K-1."

My question:  do I add the two amounts together for the non-conforming state or just use (53,000) as the Ordinary business income/loss for CA, the non-conforming state?

 

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Level 15

Did they get a CA K-1?

If not, based on the wording, it sounds like the Box 20 is an adjustment to Box 1


ex-AllStar

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1 Reply 1
Level 15

Did they get a CA K-1?

If not, based on the wording, it sounds like the Box 20 is an adjustment to Box 1


ex-AllStar

View solution in original post