Schedule K1 Box 19

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Where do I input Box 19 information from Passthrough K1s? The tab says Llines 12 - 19, but that's a lie because it stops at Box 18. Where do we input data from Box 19?

ProConnect Tax

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abctax55Answer

Level 15

Okay, I understand mostly. But where do I enter the distributions the partnership received? In Lacerte, I put that in Box 19 in the passthrough K1 screen. There's no such screen in Proconnect. So I don't know where to enter it.

As Phoebe said, it's a reduction in the investment in the partnership. So it goes on the balance sheet (indirectly...) as the remaining capital account. Your trial balance *should* reflect this information.

HumanKind... Be Both

George4Tacks

Level 15

Since you are asking other users you need to ask a full and complete query.

What flavor of K-1?

What is the description of line 19?

Have you taken the time to read the instructions for the taxpayer that would normally have come for the K-1?

Answers are easy. Questions are hard!

S

sunshinebkAuthor

Level 3

I'm preparing a partnership return and I need to enter the passthrough K1 information because it (the partnership) received a K1 from another partnership. Line 19 is the distribution line. There are tabs in the entry screen that divvy up the K1 lines. There is a tab that says Lines 12-19, but there is no space for Line 19 input on that tab.

PhoebeRoberts

Intuit Community Champion

Your partnership received a distribution from another partnership; the K-1 you provide your partners should only reflect the distributions they received from you.

On your trial balance, those distributions from the other partnership should match the distributions you booked as a reduction of (credit to) "Investment in Other Partnership."

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