How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Stephen G. Your Own Question
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7096
Experience:  Extensive Experience with Tax, Financial & Estate Issues
Type Your Tax Question Here...
Stephen G. is online now
A new question is answered every 9 seconds

Hopefully. One question. I'm filing a new Partnership Return

Customer Question

Hopefully. One question. I'm filing a new Partnership Return (for Minnesota). Can the Partnership elect "where" the income comes from for an individual partner? For example, the Partnership earned a small amount of Minnesota income and most of the income was from outside of Minnesota. Can the Partnership elect that the one Minnesota resident receive ALL of the Minnesota income, while two other non-Minnesota resident Partners receive their income excluding the Minnesota income (so that the non-Minnesota residents would not have to file Minnesota State returns. All partners would still receive 1/3 of the profits.
JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?
Customer: I don't think so.
Submitted: 2 months ago.
Category: Tax
Expert:  Stephen G. replied 2 months ago.

Hello, my name is***** goal is to give you a complete & accurate answer. I am working on your request now & I will respond as soon as possible.

Expert:  Stephen G. replied 2 months ago.

No. That type of allocation of gross receipts would not be permitted.

By agreement you can alter the percentages of net income to each partner but you can't designate or allocate the source of profit or net income to any partner.

Steve G.