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How to print a Schedule K-1 package

by Intuit Updated 4 months ago

Schedule K-1 packages are available for pass-through business entities (Partnerships, S-Corps and Fiduciaries). The K-1 package will include a letter, K-1 form, K-1 state forms, and any other applicable forms for each partner, shareholder, or beneficiary.

Follow these steps to print a K-1 package:

  1. Open the business entity's tax return.
  2. Go to the File Return tab.
  3. Select Print K-1/Grantor Packages on the left-side menu. Here you can select certain clients or select all clients.
  4. Select whether you want to Mask SSN and add watermark or Add watermark only
  5. Select Create zip file, and the confirm that you want to use a credit to create this K-1 package. Once confirmed, select Download zip file.
  6. The file will export to your downloads folder, and it will be titled with the name of the client. Extract the contents of the zip folder by right-clicking and selecting Extract all (Windows) or double-clicking (Mac).

The zip file will be organized by partner, shareholder, or beneficiary names in the order you entered them in the program. You should send the K-1 package to each recipient to inform them of their income or loss.

You also have the option to Send K-1 packages directly through ProConnect. For more information see here.

ProConnect Tax

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