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- Tx has some footnotes on the K-1 Do I have to enter them and where?
Tx has some footnotes on the K-1 Do I have to enter them and where?
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chapguy19
Level 4
04-30-2022
06:10 PM
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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.
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.
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1 Comment 1
dkh
Level 15
05-02-2022
09:20 AM
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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.
