nbeck
Level 3
12-07-2019
08:08 AM
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I am preparing a partnership return that is a partner in several ptps. When we export the K-1 for the partnership to the 1040 will the information from the ptps k-1 transfer individually so you can keep up with basis?
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PhoebeRoberts
Level 11
12-07-2019
08:08 AM
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In my experience, K-1 data export does not work well for very complex returns. You should plan to enter the separate activities manually.
sjrcpa
Level 15
12-07-2019
08:08 AM
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:+1:
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George4Tacks
Level 15
12-07-2019
08:08 AM
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I support Phoebe. https://accountants-community.intuit.com/questions/1822546-form-1120s-sch-k-1-line-17-code-v-asteris... seems to also support the difficulty with too many activities in one partnership.
Here's wishing you many Happy Returns