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April 10, 2025
Question

How do I enter a New York State K-1?

  • April 10, 2025
  • 1 reply
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    1 reply

    April 10, 2025

    To report your K-1?

    1. Open your return
    2. Type K-1 in the search box and select jump to K-1. 
    3. You will report it in the Federal Income section. 
    4. Information will carry over to your state return. 

     

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    BarrntonAuthor
    April 10, 2025

    The Federal entry doesn't include the NY State K-1, IT-204-IP,  additions and subtractions relative to depreciation, (Addition #209 and Subtraction #213).  Instead, TurboTax, Home and Business computer edition, directs input to form IT-398, "Depreciation Schedule for IRC Section 168(k) Property".  This form doesn't allow input from the NY K-1 but instead requests depreciation detail not available to the K-1 recipient. Leaving the detail blank creates a form error, even if the amounts for the addition/subtraction is entered.  I believe turboTax has omitted a necessary form in their NY state edition, the aforementioned IT-204-IP. 

     

    Thanks for your answer.

    April 24, 2025

    IT-204-IP is only available in the TurboTax Business program.  None of the individual tax programs carry it.

     

    Here is where you can get TurboTax Business.

     

    @Barrnton 

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