david3
Level 8

Single S Corp shareholder has a consulting business and moved from CO to FL during 2024.

PS automatically checks the nonresident box and shows errors in the K-1 worksheet for nonresident form DR 0107 or a composite filing.

The CO instructions say to mark a part-year resident as a resident and follow the resident instructions. Evidently, the CO portion of the K-1 income will be allocated on the shareholder's CO personal tax return. 

Even if I override the shareholder information to mark the SH as a resident, PS still shows errors on the Sch K-1 worksheet for the composite filing and nonresident boxes.

How do I get rid of the errors and correctly prepare the CO S Corp tax return?

I am using PS Professional.

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