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I have a partnership client that has received a K1 from an S corporation. Where do I enter this in Proseries?

ericstone_1999
Level 1
 
0 Cheers
2 Comments 2
sjrcpa
Level 15

A partnership can't be an S Corporation shareholder, so that's probably why the software doesn't have a place for S Corp K-1s.

The more I know, the more I don't know.
dascpa
Level 11

An S corporation cannot have a partnership as a stockholder.  It is most likely that the S corporation election has been nullified by them admitting a disallowed entity.  Please dig further into this situation before proceeding.