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How to report K1 Partnership
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CRM2182
Level 5
Wednesday
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TP received Sch K-1 from his partnership. I've not included one of these on a personal return before and was hoping for some guidance. Other than entering the standard information and Partner's share, do I need to be including somewhere on the return the information from Part II L Partner's Capital Account Analysis? Or any information from the Partner's Basis Statement that's attached? TIA.
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sjrcpa
Level 15
Wednesday
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You already asked
Get the partner's instructions for K-1 if you don't already have them, and follow them.
The more I know the more I don’t know.
CRM2182
Level 5
Wednesday
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Reading through the Partner's Instructions; it seems that is used to complete the K1 not enter the K1 on the personal return.
