Open the Partnership that is the owner. Then look on Forms bar and choose (usually under Common Forms) "K-1 Partner". (not Sch K-1 Wks). When you click on K-1 Partner, you will be asked to choose a Partnership you already have, or set up this new one you are referring to. Set it up (FEIN, Name, Etc), and then just enter on the appropriate lines exactly what is on the K-1 you received from that partnership. Of course this applies if you didn't prepare both Partnerships. If you did...see my post below.

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natsprague

Level 2

Another question with these. Partnership owns other partnership. Partnership receives K-1 from the partnership it owns with a multi-state allocation of income / gross receipts. Do i just issues supplemental schedule to the Partner with his allocation of the state income / gross receipts or is there a way to enter that information in 1065? thank you

Accountant-Man

Level 13

Thanks, dd4vols.

** I am "Elevating with Intention!"

dd4vols

Intuit Community Champion

If you prepared the 1065 in ProSeries, then all you have to do is import.

Open the destination file, then

Top Toolbar>Import>K-1 Import>1065: Partnership> then select the Partnership you want to import from. It detects applicable SSNs and does the rest for you.

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natsprague

Level 2

Guys, what do you do if client's 1065 is due by March 15, and the K-1s from other partnerships is due by March 15, do you wait till you receive the K-1s on time for you to file on time or do you end up filing an amended return? thank you

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