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My husband and I own 1540 shares of Teppco Partners, L.P.. We
received a K-1 schedule and on it, there is a list of 16 states and the
net ordinary income earned in each of these states. The dollar
amounts range between $0.00 and $260.00. At the bottom of the form
it says that the Partnership operates in 19 states that impose an
income tax on a partner's share of the partnership allocable to such
states. It says to ask your tax advisor about filing non-resident income
tax forms. I called Teppco for advice and they said I should get an
advisor. I don't want to pay an advisor to answer this one question.
Do people really file 19 various state income tax forms just because
they own pieces of partnerships that earn income in these various
states? It sounds a bit crazy to me.


Usually the depletion allowance reduces net income to zero or less so you have no net income in thoses states. Also, the amount is so low that your state exemption offsets some of it, and the tax rate is so low that you can safely ignore it. 3% of $260 = $8.
Don't wase your time nor money on the problem. ed
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