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Level 3
February 24, 2021
Solved

partner's instructions for k-1

  • February 24, 2021
  • 1 reply
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The following language probably needs to be removed from the 2020 default partnership client cover letter:

"Be sure to give each partner a copy of the Partner's Instructions for Schedule K-1"  

As far as I know the IRS did away with the one page list of box code and instructions for 2020. It's all in the 1065 instructions now, isn't it?  Imagine if you had to give each partner a copy of that document?

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Best answer by sjrcpa

IRS did away with Page 2 of the K-1 that had the Codes. There are still Partner's Instructions for Schedule K-1, which contain the codes on pages 21-24.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
February 24, 2021

IRS did away with Page 2 of the K-1 that had the Codes. There are still Partner's Instructions for Schedule K-1, which contain the codes on pages 21-24.

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