For those of you who file state returns - can you tell me if I am supposed to add all of the columns for LA together and enter that as my partnership income on the state form? if yes - I came up with 42.00 tax on 3500. Does this look like what you all did? Does this 42 come off my resident state form? Looking at filing requirments for all of the states - it looks like 24 states are expecting a return filed? i.e. they require a filing regardless of income. Does this seem correct? FYI - I have NOT sold any shares. thanks
Normally you would file in states where you had positive income that exceeds the filing requirement for a non-resident of that state (which you will have to determine state by state). It does not come off your resident state but usually they will give you a credit for some if not all of the taxes paid to another state
Thanks for the reply. Did you get a K1 from EPD? for LA you would have 4 columns populated (I only own 350 shares). The gross recciepts always makes the state positive. Am i supposed to add all of the coumns together for LA or just use the ordinary loss number on the individual state return?