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jeancpa
Level 2
August 29, 2020
Question

tax exempt income on 1065

  • August 29, 2020
  • 3 replies
  • 23 views

I have encountered my first form 1065 with significant tax exempt investment income.  I am having difficulty discerning where to enter it in ProSeries.  Could someone assist?

Thank you.

This topic has been closed for replies.

3 replies

Terry53029Intuit Community Champion
Intuit Community Champion
August 30, 2020

You answer is in the instructions for the 1065: https://www.irs.gov/instructions/i1065#idm140672577472432

The instructions are long, but you should study them. You put them on the K1 worksheet line 18 code A

    jeancpaAuthor
    Level 2
    August 31, 2020

    Thank you for your reply. My question was not where they end up, but whether I should enter them directly on the K1 or if there was a spot on the worksheet I was missing.

    Accountant-Man
    Accountant-Man
    Level 13
    August 31, 2020

    Schedule K, page 4, line 18 a.

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