TAXMAN Posted August 6, 2020 Report Share Posted August 6, 2020 For my SC friends. According to K-1 partnership has a SC address. It sold RE in SC. Passed the gain to Virginia resident. Does my VA resident owe SC tax on this gain. The only number on the k-1 is box 9a long term capital gain. on the SC 1065 K-1 it has the partner as a nonresident. Have not run into this b-4. Thanks for the help Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted August 6, 2020 Report Share Posted August 6, 2020 Yes, you pay tax where you earn income, unless there's a reciprocity agreement between the states. And reciprocity is almost always just for W2 wages. 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.