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- Allocating S-Corp Income Between Multiple States
Allocating S-Corp Income Between Multiple States
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tccpg289
Level 4
3 weeks ago
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Taxpayer has nexus in multiple states for an 1120-S and needs to allocate accordingly.
Where is this done in ProConnect? Does it generate the appropriate K-1 for each state?
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sjrcpa
Level 15
3 weeks ago
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Most business income gets apportioned, not allocated.
Look for apportionment input areas. You will definitely need sales in each state. Some states also use payroll and property in their apportionment factors.
Ex-AllStar
