I am preparing a partnership return that is a partner in several ptps. When we export the K-1 to the 1040 will the information from the ptps transfer individually?

Forum|Forum|6 years ago
December 7, 2019
3 replies
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I am preparing a partnership return that is a partner in several ptps. When we export the K-1 for the partnership to the 1040 will the information from the ptps k-1 transfer individually so you can keep up with basis?

Lacerte Tax

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Best answer by George4Tacks

I support Phoebe. https://accountants-community.intuit.com/questions/1822546-form-1120s-sch-k-1-line-17-code-v-asterisk-and-stmt seems to also support the difficulty with too many activities in one partnership.

PhoebeRoberts

Intuit Community Champion

In my experience, K-1 data export does not work well for very complex returns. You should plan to enter the separate activities manually.

sjrcpa

Level 15

The more I know the more I don’t know.

George4TacksAnswer

Level 15

I support Phoebe. https://accountants-community.intuit.com/questions/1822546-form-1120s-sch-k-1-line-17-code-v-asterisk-and-stmt seems to also support the difficulty with too many activities in one partnership.

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