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

Where are partner's share of profit/losses or capital percentages entered in form 1040?

ajain
Level 3
 
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Best Answer

Accepted Solutions
IntuitJim
Employee
Employee

Generally, the partner's share of profit/losses or capital percentages are entered in the Form 1065 when preparing the partnership return. Only the K-1 items of income and expense are entered on form 1040. 

View solution in original post

0 Cheers
1 Comment 1
IntuitJim
Employee
Employee

Generally, the partner's share of profit/losses or capital percentages are entered in the Form 1065 when preparing the partnership return. Only the K-1 items of income and expense are entered on form 1040. 

0 Cheers