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shanross888-hotm
Level 2
November 12, 2022
Question

I have a disregarded activity that receives a K-1. How do I input the K-1 so that it shows who the correct partner/passive activity it is under?

  • November 12, 2022
  • 1 reply
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1 reply

sjrcpa
sjrcpa
Level 15
November 12, 2022

Do you mean disregarded entity?

And who is the owner oft the disregarded entity?

If it is an individual, report the K-1 on the 1040 as if the individual owned the K-1 entity.

The more I know the more I don’t know.
    S
    shanross888-hotmAuthor
    Level 2
    November 12, 2022

    This is a parent foreign corporation owning a domestic disregarded entity. The disregarded entity is an activity and should be the recipient of the K-1, not the parent. The partner on the K-1 is the disregarded entity. It reports on a consolidated return, but how do I show this relationship?

    sjrcpa
    sjrcpa
    Level 15
    November 12, 2022

    Report the K-1 on the consolidated return, as if the parent owned it.

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