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How to determine the California amount of Schedule K-1 income from partnerships

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June 1, 2019
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TurboTax Self Employed Online

Best answer by ChelsiE2

If the Partnership does business in California then your Schedule K-1 should have included a Schedule K-1 (565 or 568). This form will show the California amounts.

If the Partnership does not do business in California but you are a resident there, then the entire amount of your Schedule K-1 income will be taxable by California.

C

ChelsiE2Answer

If the Partnership does business in California then your Schedule K-1 should have included a Schedule K-1 (565 or 568). This form will show the California amounts.

If the Partnership does not do business in California but you are a resident there, then the entire amount of your Schedule K-1 income will be taxable by California.

B

balibill1

@TurboTaxChelsiE

I am a California resident. My fed 1065 K-1 has a State Schedule various amounts for a dozen or so States including CA. i did not receive a Form K-1 CA (565)) just the regular fed K-1. Putting aside any non-resident state filing issues.... do I need to do any adjustments in TT based on these CA state schedule numbers in my fed form 1065 K-1. As you note as a CA resident it seems like I am liable for all income regardless..... TT has a section on the CA state return for “partnership k-1 adjustments” from your “California Schedule K-1” but again since I didn’t actually receive a CA K-1 Form 565 (just the state Schedule on my 1065 k-1) do I just show no adjustments? Thanks....