K-1 and states...

MelanieCPA

Member

Join Date: Jan 2007

Posts: 46
#1

K-1 and states...

05-11-2007, 02:32 PM

Client is a resident of Ohio. Received 2 K-1's, 1 from NH and 1 from NY. (Both losses.) Do we have to file state returns for those 2 states or OH only?
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BOB W

Senior Member

Join Date: Jun 2005

Posts: 4048
#2

05-11-2007, 02:49 PM

Originally posted by MelanieCPA View Post

Client is a resident of Ohio. Received 2 K-1's, 1 from NH and 1 from NY. (Both losses.) Do we have to file state returns for those 2 states or OH only?

I have thought about this in the past and was wondering if I should file the "Loss K-1" and elect to carry the loss forward, just in case there was a profit in the future or a gain upon liquidation. What do you think?????

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