Question

How do I handle/report local taxes paid from K1 (form 1065).

Forum|Forum|2 years ago
February 25, 2024
1 reply
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I received a K1 from a LLC on form 1065 which indicates in the statements -

"Share of (local ohio city) Income. $16,878"

"(local ohio city) taxes paid on your behalf. $410 "

How do I use this information? Are the local city taxes paid on my behalf entered on my 1040 as additional local taxes paid"

Thank you

PatriciaV

Employee

Yes, you should include the local taxes paid on your behalf under Deductions >> Estimated Taxes >> Local estimated taxes. TurboTax will carry this payment over to your State income tax return and apply it wherever necessary. Note that TurboTax does not file local income tax returns.

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