CA resident - Don't have california K-1 for out of state partnership LLC. How to report K-1 for CA state taxes

Forum|Forum|1 year ago
February 27, 2025
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Hello,

I am a CA resident and have a multi member LLC created in Texas to manage a rental property in Texas. All other partners are based in Texas. A CPA in Texas filed the partnership returns and generated a K-1 for each of the partners. No California K-1 was generated for me. I need help in preparing California state taxes. Following are the questions:

1. Is California K-1 needed for this case? should I have got one if the LLC as well as the property are in Texas?

Assuming California K1 is not needed,

2. My federal partnership K1 is already carried on to my CA state tax return. while reviewing, TT asks for California K-1 adjustments as compared to Federal K-1. should I keep it California K1 column blank?

3. Further in the adjustments, TT also asks for "aggregate gross receipts" from line 20 of California K-1 and asks not to keep this field blank. What to fill here? 0?

Thanks in advance for any response and guidance.

TurboTax Premier Online

Best answer by PatriciaV

1, If the partnership had no California-sourced income, you would not receive a California Schedule K-1.

2. You will have no adjustments in California for this income, as California taxes its residents on all income, including income from outside the state. Leave all boxes blank.

3. Since you didn't receive a California K-1, follow the instructions on the page "Partnership K-1 Adjustments" for aggregate gross receipts and enter zero (0).

PatriciaVAnswer

Employee

1, If the partnership had no California-sourced income, you would not receive a California Schedule K-1.

2. You will have no adjustments in California for this income, as California taxes its residents on all income, including income from outside the state. Leave all boxes blank.

3. Since you didn't receive a California K-1, follow the instructions on the page "Partnership K-1 Adjustments" for aggregate gross receipts and enter zero (0).

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