State returns for PTP K1s

[Kea]

Client receives a few K1s for publicly traded partnerships. Previously all states listed had losses or gains under the states' filing thresholds. This year there were some gains in NM and WV - both of which require filing if there is ANY income from their sources. If I'm using the right columns on the state info page, the net income for one of the states is $11 and the other is $25.

Are these states really that picky that even these tiny amounts need to be reported? I've only done one NM return and haven't done any WV. So, I really need to learn how to do both these state for just insignificant amounts?

Thanks!

[Lion EA]

Yes. But, you could tell your client how much you charge for those returns and let him decide! Also, tell him what those states charge for non-filing.

[Kea]

Thanks for confirming. Just trying to find a way to wiggle out.

I haven't looked up the non-filing penalties for the states. This guy always wants to do what's right. It just seems the states would have "reasonable" (whatever that might be!) minimum threshholds.

I've worked through the NM return and the income is so insignificant compared to the federal total that the % allocation is 0.0000% therefore tax is $0. Gee, what a surprise. I just hope I have it filled in correctly!

Now on to WV.

Then I'll try to convince him to sell these PITAs!

Thanks again Lion.