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2 member partnership llc - partnership was formed in md but

2 member partnership llc -...

2 member partnership llc - partnership was formed in md but does not have any active business in md. It's source of income is in state of pa. My partner sent me a k-1 for md and pa for 2012 that has the same amt as source of income for both states,  is that correct? I am a non resident of either state. I live in NY. For MD k-1 non resident tax was paid by pte

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7/1/2013
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
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Robin D :

Hello and thank you for using Just Answer,
As the partnership is registered in Maryland the K1 for Maryland is correct. PA would require a K1 to all partners as well because the partnership is conducting business in PA.
Nonresidents must report net profit (loss) from business or farm operations in PA.


Nonresident Partners and Shareholders of PA S Corporations

Report your share of partnership or PA S corporation income (loss), whether distributed or not, in the same PA income class in which the partnership or PA S corporation realized the income (loss). Enclose a copy of each PA Schedule NRK-1 you receive.



Robin D :

Ny should allow the credit for taxes paid in foreign states on the same income you will report for your NY return.

Robin D.
Robin D., Senior Tax Advisor 4
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