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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Re: California LLC Tax Implications Date: 1/1/2013 7:50 AM
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Will I need to report all of my income to CA, or only that part that comes from within the state (this investment, for instance)?

You actually end up reporting both. You report your total income and deductions, then calculate a tentative tax amount as if you were a CA resident. Then you report the portion of your income that's from CA sources. The ratio of that to your total income gets applied to that tentative tax number. Roughly, anyway.

You'll want to take a look at CA form 540NR and schedule CANR.

Is this something that packages like TaxAct can't handle?

I'd take a close look. I'm sure that TaxAct (and similar) can handle CA resident taxes. I'm not as sure they can handle Non-resident taxes, but there's a good chance that they do. You'd have to investigate the capabilities of the program you prefer.

--Peter
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