Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

How do I suppress "Partner's Share of Investment in PTEs" that accompany K-1s?

machatz
Level 3

Working on a 1065 that has special allocations everywhere.  I was able to use the special allocations input screen to make sure the K1 reporting is correct, however the supplemental statement/worksheet that accompanies the K1s showing the breakdown of income between PTE investments is incorrectly just allocating income pro rata.  How do I suppress these statements so my investors don't get a bunch of wrong info that is just going to confuse them?

Happy 9/15 and thank you in advance.  PS - I hate Series LLCs.

 

0 Cheers
1 Best Answer

Accepted Solutions
PhoebeRoberts
Level 11
Level 11

Do any of the overrides in Screen 3, User Option Overrides, help? 

View solution in original post

3 Comments 3

breakdown of income between PTE investments 

 

I don't know about Series LLC's. Can partners specially allocate their portion of the income from a PTE coming into the primary partnership?  My intuition is that a partner can specially allocate only the income from the top/upper tier partnership to themselves.  Interesting. Good luck.

0 Cheers
PhoebeRoberts
Level 11
Level 11

Do any of the overrides in Screen 3, User Option Overrides, help? 

machatz
Level 3

Thank you so much - found the option buried somewhere on that screen.