Level 2

Schedule K-1 Partner Information

Forum|Forum|6 years ago
April 9, 2020
1 reply
15 views

Where can I enter partner information from J,K, and L of the K-1 into ProSeries Professional for an individual return?

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Level 5

In the ProSeries program, using the Schedule K-1 worksheet, you will find all the necessary line items to be able to "input" the information from Schedule K-1 received, which will then "flow" to the appropriate lines on the tax return, Sch E and the like. You mention J, K and L of the K-1, are you looking at supporting statements or the actual K-1 provided by the client?

L

L YoungAuthor

Level 2

Looking at the actual K-1, Partner information section--these include the partner's share of profit, loss, and capital, partner's share of liabilities, and partner's capital account analysis. This is in Part II of the K-1. In ProSeries there is a small section for Part II the entry worksheet but nowhere to enter these details. See below:

IntuitCharlene

Community Manager

The Schedule K-1 Worksheet in the 1040 return does not have data entry fields for those lines. That informaiton would be for your records.

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