Skip to main content
February 15, 2024
Solved

Have Schedule K-1 1041 for an estate, no issue with federal return, my state asks for info, but estate was from another state. It's all deductions, no income. Do I need to file anything on my state return re this K-1?

  • February 15, 2024
  • 1 reply
  • 0 views
No text available
    Best answer by AmyC

    Maybe.  No If your state begins with your federal AGI, then it would already be accounted for. Otherwise, you would want to include deductions against your state income.

    If you are not sure, reply with your state of residence.

    1 reply

    AmyC
    AmyCAnswer
    February 15, 2024

    Maybe.  No If your state begins with your federal AGI, then it would already be accounted for. Otherwise, you would want to include deductions against your state income.

    If you are not sure, reply with your state of residence.

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    JanNCAuthor
    February 15, 2024

    I did enter the K-1 1041 into the federal return first.  We live in NC and the estate is SC.  There is a SC K-1 as well as the K-1 for the federal tax.  Thank you so much for replying!

    AmyC
    February 15, 2024

    NC begins with the federal AGI so you are all set! 

    Yes, a K-1 for each tax entity is generated to be filed with the state / federal by the issuer of the k-1.

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"