A lower tier partnership (in State A) issues a K-1 to another upper tier partnership with federal K-1s and some state K-1s. The upper tier partnership (also in State A) picks up the K-1 income and issues K-1 to individual partners that includes the income of the upper tier partnership and the K-1 income from the lower tier partnership. My understanding is that in order for the lower tier state K-1 income to flow thru to the individual partners the upper tier partnership will also have to issue the state K-1s for those states just as the lower tier partnership did. Can anyone please confirm.
Announcement
Collapse
No announcement yet.
Flow thru from one partnership to another partnership
Collapse
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.