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multistate 1040 with regular and composite K-1

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Level 1

I have a resident of IL that also files in MI and CO.  They received 3 K-1s for CO - one of them is a composite filing while the other 2 are not.  Is there a way to account for the composite return on the IL return but not the CO return?  Or should I include the composite return as part of the CO filing and include the composite withholding?  I know you should be consistent with K-1 filings, but that's not what happened here.  Can anyone help?

Thank you!

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2 Replies 2
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Level 15

"account for the composite return on the IL return but not the CO return? "

What do you mean by this? Something to do with credits for tax paid to other states?

Please provide more details.


ex-AllStar
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Level 1

Composite returns are generally not reported to the state in which the composite return was filed.  However to get the proper credit for the tax paid to CO on income also taxed in IL, I need to report both the income and tax paid on the CO return and the income and tax paid on the composite return.  Seems to me like I may need to paper file the IL return in order to account for both pieces of the CO tax paid on the IL return.

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