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I'm new to entering K1's and looking for articles and/or training to make sure I'm doing everything properly.

paul7
Level 2
All of the K1's I'm entering are for real estate limited partnership funds (all Passive). I'm currently trying to duplicate taxpayers 18' return before doing their 19' and I cannot get the Form 8582 or Schedule E to match up.  Any resources or guidance is much appreciated. Thank you!
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George4Tacks
Level 15

https://proconnect.intuit.com/community/forums/searchpage/tab/message?advanced=false&allow_punctuati...

Click the middle column for the  articles.

It is pretty much by the numbers. There are line numbers on the K-1 and association line numbers in the entry areas. Match them up. 

For the 8582, you will need to look at the prior year return to get the carryovers. They are in At Risk Carryovers. You should also have a basis schedule and they are entered in the Basis Carryovers. 

 


Answers are easy. Questions are hard!

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2 Comments 2
George4Tacks
Level 15

https://proconnect.intuit.com/community/forums/searchpage/tab/message?advanced=false&allow_punctuati...

Click the middle column for the  articles.

It is pretty much by the numbers. There are line numbers on the K-1 and association line numbers in the entry areas. Match them up. 

For the 8582, you will need to look at the prior year return to get the carryovers. They are in At Risk Carryovers. You should also have a basis schedule and they are entered in the Basis Carryovers. 

 


Answers are easy. Questions are hard!
BobKamman
Level 15

Why are you sure the 2018 return is correct?  Maybe that's why they hired you for 2019.