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Entering separately stated items from the Partnership Schedule K-1 in ProConnect Tax
by Intuit• Updated 1 month ago
To enter other income or other deductions:
- Go to the Input Return tab.
- Select Income from the left menu.
- Select Passthrough K-1's then Partnership Info (1065 K-1).
- Select Less Common Scenarios tab from the top submenu.
- Locate the Separately Stated Income and Deductions subsection.
- Enter items that relate to passive activities in First Passive Item.
- Enter additions as positive numbers, and subtractions as negative numbers.
- ProConnect Tax carries these amounts to Form 8582 and carries allowed losses from Form 8582 to Schedule E, Part II: Line 28, column G.
- The description prints in column (A) and the employer ID number of the entity prints in column (D).
- Enter other items that relate to nonpassive activities in Other nonpassive items (Click on button to expand).
- Enter additions as positive numbers, and subtractions as negative numbers.
- ProConnect Tax carries these amounts to Schedule E, Part II: Line 28, column J, as separate line items and prints the description in column (A) and the employer I.D. number of column (D).