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M
MIKE PETERSEN
Level 2
August 20, 2020
Question

Entering SCorp k-1 info into 1065 return

  • August 20, 2020
  • 2 replies
  • 13 views

Please help.  I have an partnership with a 2% interest in a SCorp.  where do i enter it on the 1065?

    This topic has been closed for replies.

    2 replies

    T
    TaxGuyBill
    August 20, 2020

    Maybe I'm misunderstanding your situation, but it seems like the corporation is now a C-corporation.

    If a Partnership is a shareholder of the corporation, that invalidates that S-election.  A S-corporation can not have a Partnership as a shareholder.

    If that is your situation, your client really needs to talk to whoever is doing the corporate return.

    If I'm misunderstanding your situation, please give additional details.

      M
      MIKE PETERSENAuthor
      Level 2
      August 21, 2020

      Thanks for the response.  The client owns the stock personally they just filled out the information sheet incorrectly with the name of another entity.

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