Filling out Form 1065, Schedule K-1 in Lacerte

For more Schedule K-1 resources, check out our Tax topics page for Schedule K-1 where you'll find answers to the most commonly asked questions.

This article will help you are working on a 1065 return and you need to enter an amount for Form 1065, Schedule K-1, line 11F.

How to fill out Form 1065, Schedule K-1, line 11F:

1. On the Contents tab, go to Screen 22, Other Schedule K Items.
2. Under the Income (Loss) section, select the Other Income (loss) (Ctrl+E) field to expand the Other Income (Loss) window.
3. Under the K-1 Code (Ctrl+T) dropdown, select F=Other income (loss).
4. Enter a Description.
5. Enter a dollar amount for Federal and/or St. if diff (-1=none), if applicable. 

Form 1065, Lines 1-21

• These lines will be the partners share of the items on the Schedule K-1 (Form 1065, page 5). 
• If the allocation needs to be different, go to the Screen 29, Special Allocations
  • See here for more info on Special Allocations.

Partner's Capital Account Analysis

This is based on the Partner's share of the amounts on the Schedule M-2. These can be entered on Screen 28, Schedule M-2 (Capital Account).

For full walkthrough of Form 1065 in Lacerte, see here.

Additional information:

• Entering partnership Schedule K-1 line 11 code I in an individual return