Ca Scorp and shareholder moved to Florida on 03 31 21. Established residency in Florida and the corporation filed the paperwork and merged out of CA. The corporation is a limited partner in a CA partnership and will continue to receive income and K-1. Towards the end of 2021 while it was a FL corporation, the corp sold an investment and had a large capital gain. I am a bit confused on how to it is reported on the CA return. The k-1 income is 100% sourced to CA and the Capital gain is 100% sourced to Florida. If this assumption is correct, then do I complete a Schedule R to allocate the income? Going forward, since the corporation will have a k-1 from CA, it will have to file a CA return? and if yes, do I use the “old” merged out CA ID number?
9-Sep-2022 1:25pm
