I live in Maryland-operate sole prop. Also own a single member LLC in NY that only does biz in NY but doesnt have a physical presence. What do I put for address of LLC

Forum|Forum|2 years ago
April 2, 2024
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The New York LLC had no income in 2023 but did have expenses. I will need to file both MD and NY state returns but how do I tell Turbotax what state the business owes taxes to? My physical location (home office) for both businesses is in Maryland. TurboTax is including the NY LLC business in my Maryland return.

TurboTax Online

PatriciaV

Since the address for your business is in Maryland, you'll need to add the New York business income to report NY sourced income on your non-resident tax return. Do this first.

On your resident Maryland return, adjust out the NY income from the business income reported to Maryland.

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c_lorenzo-forensAuthor

Thank you for your response. So I should first complete at NYS state return and move those numbers to my Maryland return? I guess the what I don't understand is how to arrive at a negative number Tax Paid to NY. On the MD return it asks for taxes paid to another state. If I add NY, it wants me to provide a dollar amount for Double Taxes Income (in this case a negative number) and then Tax Paid to NY on Double Taxed Income (there is no tax paid to NY because the income was a loss). If I put in the negative dollar amount for Double Taxed Income to NY and then zero for Tax Paid to NY, nothing changes on my Maryland return. Thanks again for your help with this.