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I received a K-1 with income stated on it from business in…

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I received a K-1...

I received a K-1 with income stated on it from business in the state of Ohio and was also given an IT 4708P and the lawyer said I would need to pay that. Doing my taxes it has asked me how much my Oh credit was (tax paid on my behalf) I don't think I should enter anything there as I am paying the tax myself. So do I state that the LLC listed on the K-1 is a pass through entity?

Accountant's Assistant: The Accountant will know how to help. Is there anything else important you think the Accountant should know?

I am a resident of Michigan

Submitted: 1 month ago.Category: Tax
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Answered in 2 hours by:
3/13/2018
Tax Professional: Barbara, Enrolled Agent replied 1 month ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,785
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

If no tax was paid on your behalf, you would not enter anything.

The LLC issuing the K-1 is a pass through entity.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Barbara
Barbara
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Category: Tax
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Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.

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