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Level 5
March 6, 2026
Question

K-1 Partnership 1065

  • March 6, 2026
  • 1 reply
  • 10 views

Schedule K-1, form 1065, box k1 partner's share of liabilities, Box L on the bottom left of the 1065 K-1 shows partner's capital account analysis, like beginning capital account, capital contributed during the year, increases, decreases, and ending capital account.  I know where to enter these amount in Ultra Tax, but I cannot find a place to enter any of these in the Proseries Schedule K-1 worksheets.  

1 reply

dascpa
Level 11
March 6, 2026

Sch K-1 Wks for each owners detail.

Sch L Partners Liabilities Worksheet for entity nonrecourse, qualified recourse and recourse debt.

Opfor77Author
Level 5
March 6, 2026

This is for his 1040 K-1 partnership.  I can't find the location for some reason.

dascpa
Level 11
March 6, 2026

In ProSeries you don't enter capital account information unless there is a basis (at risk) issue and then you follow Form 6198 at risk limitations and if an S corporation Form 7203 S Corproation Shareholder Stock and Debt Basis Limitations.  It would be nice if P.S. did a better job of this at the partner level but we work with what we got.