K1- Box 11 I get paid on a K1. My income on the K1 get reported in box 11, which is the box for "other income." My question is: since my income is NOT reported in box 1, which is the box for "ordinary income", is that income taxable on the state level? Namely, is it taxable in the state of New Jersey?
I would really appreciate your response to my question. Thanks |