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sandralgarcia1159
sandralgarcia1159
Level 1
August 23, 2022
Question

K-1 PAGE 2 - CODE DEFINITIONS (Form 1120-S)

  • August 23, 2022
  • 3 replies
  • 8 views

Hello, 

I am looking for the Page 2 for K-1's which, up to 2019, was used to define all the codes on a K-1.

I am unable to locate it for the 2021 TY.  Was this page eliminated?  If so, what do we use to explain the various codes on a K-1?

 

This topic has been closed for replies.

3 replies

IRonMaN
IRonMaN
Level 15
August 23, 2022

The IRS eliminated page 2 in 2020.  Unless you have a lot of the K-1 recipients manually preparing their own 1040, are the code descriptions really necessary?

Slava Ukraini!
    PhoebeRoberts
    PhoebeRobertsIntuit Community Champion
    Intuit Community Champion
    August 23, 2022

    The IRS removed that page from the K-1. The codes are explained in the shareholder's instructions to the K-1.

    https://www.irs.gov/pub/irs-pdf/i1120ssk.pdf

      K
      kgreen8393
      Level 6
      August 23, 2022

      I've noticed that many K-1's I received from other tax software include the pages from the K-1 instructions that show the codes as part of the K-1.   However, this adds 4 extra pages to the K-1.

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