1065-Partnership-How to report Death of a Partner

Forum|Forum|4 months ago
February 7, 2026
3 replies
38 views

Is there an area to report the Date of Death of a partner? I am not seeing any input on the K-1. Do I need to allocate the percentages manually?

Thank you

ProSeries Professional

Best answer by Norman2001

I prepared a similar 1065. I marked Sch K-1 worksheet for the deceased partner as Final. Then used the special allocation entries. Also, marked the deceased partner's basis as zero and transferred his basis to his 4 heirs who became partners. Very time consuming!

sjrcpa

Level 15

Their date of death is the date their interest terminated. You won't see a date of death field. There should be fields for ownership dates.

After death then there is a new partner - spouse, estate, whomever.

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

T

Terry53029

Intuit Community Champion

Hear is a good source for most of the info you need.

https://www.thetaxadviser.com/issues/2015/aug/accounting-for-death-of-partner/

N

Norman2001Answer

Level 6

I prepared a similar 1065. I marked Sch K-1 worksheet for the deceased partner as Final. Then used the special allocation entries. Also, marked the deceased partner's basis as zero and transferred his basis to his 4 heirs who became partners. Very time consuming!

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