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    kleenslate's Avatar
    kleenslate Posts: 1, Reputation: 1
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    #1

    Sep 2, 2009, 11:07 AM
    540NR Tax form 2007
    What is the difference between a 540NR long form and a 540NR short form for 2007. My parents had an interest in my CA LLC but live in NM. The LLC made a profit in 2007 but the money went back into the company to run it- they never received a cash payment. I did issue them a K1 showing their share of the profit at about $7300. They filed with the Fed and NM State but did not file in CA. Now they received a notice they need to go back and file. I am trying to help them file this but am not sure which form to use. Any help is appreciated.

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    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Sep 4, 2009, 05:34 AM
    I believe you need to use the Form 540NR to report Schedule K-1 income.
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