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Level 6
March 4, 2020
Solved

an LLC (partnership) received a K-1, how is this entered in the form 1065

  • March 4, 2020
  • 2 replies
  • 20 views

So a couple owns an LLC and needs to file Form 1065. But this same LLC is a member of another company form which the LLC received a K-1 report, how is this k-1 entered in form 1065? 

Thank you

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Best answer by dd4vols

if you are a partnership that has an interest in another partnership..(i.e. gets a Form 1065 Schedule K-1) from that partnership then do this.

In the Forms Bar>>Common Forms>>K-1 Partner.  You will enter the partnership info from the K-1 (name, FEIN,etc)   .. and the applicable amounts on the appropriate lines.  

2 replies

dd4vols
dd4volsIntuit Community ChampionAnswer
Intuit Community Champion
March 4, 2020

if you are a partnership that has an interest in another partnership..(i.e. gets a Form 1065 Schedule K-1) from that partnership then do this.

In the Forms Bar>>Common Forms>>K-1 Partner.  You will enter the partnership info from the K-1 (name, FEIN,etc)   .. and the applicable amounts on the appropriate lines.  

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Level 6
March 5, 2020

dd4vols:  Thank you so much. I did try it and it is there and it works. Thanks