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Level 3
July 21, 2022
Question

k1 issued without a 1065 prepared

  • July 21, 2022
  • 1 reply
  • 18 views

I need assistance....please

Can a k-1 be issued for a partnership without the Form 1065 be prepared.  Both partners are general partners and pay se tax on their personal return.

Thank you

 

 

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1 reply

sjrcpa
Level 15
July 22, 2022

No. 

Although I understand some software lets you.

K-1s are part of the 1065.

The more I know the more I don’t know.
IRonMaN
Level 15
July 22, 2022

I guess only preparing a K-1 would cut down on tax prep time 🤷‍♂

Slava Ukraini!
OzNYAuthor
Level 3
July 22, 2022

thank you for the responses...i am just baffled why k1s were issued for tax year 2019 and I am still trying to find out if the partnership return was prepared the first year that the company became a partnership in 2019. 1 The partners don't have one.  The 2 partners were made general partners, so SE tax was paid on their personal return.  I thought I was missing something, since K1s are on the partners personal returns and no partnership return in sight.