Skip to main content
Level 5
April 30, 2022
Question

Tx has some footnotes on the K-1Do I have to enter them and where?

  • April 30, 2022
  • 1 reply
  • 6 views
3% Safe Harbor Pension/Profit Sharing Contribution
401(K) Elective Deferral
Company MBR 401(K)
Partner Share of Dibimad Interest not reported on K-1
Partnership has made the election out of the centralized Partnership....Section 6221(B) for the year.
This topic has been closed for replies.

1 reply

dkh
Level 15
May 2, 2022

If there is no $$ amount for these footnotes probably safe to just review information for relevance to your clients return.  The K1 should reference a line/code where the information would be entered.

The note regarding Partner Share of Dibimad Interest not reported on K-1  makes me think you need to determine the amount to report on your clients return.