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K1 from a fiscal-year ending 1041 into 1040

Level 3

 How do you enter a K1 if it comes from a 1041 that has a different - fiscal-year - end into a 1040?

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3 Comments 3
Level 11

Whatever the year of the fiscal year end date is, is the year you enter the K1 on the individual return.

Level 1

So if on an individual 1040 for calendar year 2021, I am reporting a Final K-1 (Form 1041) with a year ending 3/31/21.  Should I hold off reporting that until taxpayer files 1040 for 2021?

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Level 13

You have to put the data from the YE 3/31/21 on the 2021 F1040. F1040 for 2021 isn't fileable yet.

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