Question

non-resident Alabama tax return when receiving an AL Department of Revenue Final K-1 Form 65, final partnership return

Forum|Forum|4 years ago
March 16, 2022
1 reply
0 views

Hi, I sold a business located in AL, a GA resident, got an AL K-1 (form 65) from the accountant. TT AL state adding a k-1 does not ask questions or create a form 65 in forms view for me to transfer the numbers off the k-1/form 65 I got into the TT AL return??

Any helps for the numbers in my k-1 (looks different then the Fed k-1); Part III fields?

This is TT home&business 2021.

Tnx curt

TurboTax Home & Biz Windows

PatriciaV

Employee

Please clarify if you also received a Federal Form 1065 Schedule K-1 for this partnership. Generally the information for the State flows from the entries you make for your Federal return. BTW, Form 65 is the Alabama version of a Partnership return, not a form that would be in your personal return.

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

C

curt504Author

Yes, I was a member in a partnership (1065) that was sold. I have a 1065 k-1 AND a form AL 65 k-1, some duplicated numbers as on the 1065 K-1. Given duplicated numbers if I enter both k-1 at the fed level I get 2x the income and cap gains.

So I deleted the AL k-1 at the fed level and in the AL state return you say add a k-1 and it does not go through the same field by field Qs. It just asks; income, just ONE field. I then manually edited the AL return with the AL k-1 part III field K capital gain. I feel my hacking/guessing the AL return manually has missed correct entry from the AL only K-1.

PatriciaV

Employee

You should not need to enter any information from the Alabama K-1 that is already reported on the Federal K-1. Do not add a K-1 to your Alabama State return. Instead, adjust the income categories on your state return where the AL K-1 is different.

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