Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- How do I get the withholding tax to allocate to the partners k-1's on a SC 1065 composite return?
How do I get the withholding tax to allocate to the partners k-1's on a SC 1065 composite return?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
lynncenter2
Level 1
08-20-2021
10:50 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Labels
2 Comments 2
PATAX
Level 15
08-20-2021
02:54 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
If it does not automatically flow through can you direct enter it?
DS20
Employee
08-24-2021
07:02 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Lynncenter2,
If the Non-resident partner files an affidavit to timely file their composite return, then the partnership is exempt from withholding, and thus, there is nothing to report on the K-1 in terms of withholdings. It’s an either/or situation, if the NR partner is filing a composite return (or the entity is filing on their behalf), their taxes are paid on the composite return and you report it on their K-1 via the “partner is included in a composite return” checkbox. However, if their taxes are w/held and paid by the entity, then they would be reported on the K-1 withholding line, and the entity would provide the partner a 1099 misc.
Here’s a great resource for additional info on Withholdings on SC income:
https://dor.sc.gov/resources-site/lawandpolicy/Advisory%20Opinions/RP17-2.pdf
