Table of Contents.

Description:

Taxpayers who are partners in partnerships (or members in LLCs taxed as partnerships) should receive a Schedule K-1 (Form 1065). Learn all you need to know to properly report the information provided to a partner on Schedule K-1. This comprehensive textbook takes you through the various elections available and whether they are made by the partner or the partnership. Finally, you’ll look at certain deductions the partner may have that are not reported on the Schedule K-1.

K-1s for 1065 covers:

• Determining the partner’s basis, at-risk and passive limitations.
• Identifying the elections made at the partner level (vs. those made at the partnership level).
• Items reported on Schedule K-1 and how to report them on the partner’s return.
• Reporting items on the partner’s return that are associated with the partnership interest but not reported on Schedule K-1.

Product Details:

Level: Basic level

Author: NATP Staff

Publisher: NATP

Publication Date: 2018

Format: Print

Nonmembers – Join Now, Save More!

Corresponding CPE Courses:

Get the electronic version of this book FREE when you purchase the corresponding course below.

K-1s for 1065 Self-Study Course