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Entering Interest Income on a Partnership return in ProConnect Tax

by ProConnect Tax Online Updated 5 months ago
  1. Go to Input Return Schedule K Other Schedule K Items.
  2. Under the Income (Loss) section, enter the interest income received by the partnership in Interest Income.

The amount will print on the Schedule K (1065), line 5 and allocated to the partners on the Schedule K-1.  To allocate the interest differently than the partner percentages, use  Special Allocations.

ProConnect Tax

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