Filling out Form 1065, Schedule K-1 in ProConnect Tax

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.

What's new for Schedule K-1 for tax year 2023:

For tax year 2023 the IRS has added multiple new codes to the Schedule K-1. Most changes involve new codes for Other Income, Other Deductions, Other Credits and Other Information to provide additional details for when the 1040 is completed. To see the Partnership codes click here, to see the S-Corporation codes click here and scroll down to the code lists on the last pages of the instructions.

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

1. From the Input Return tab, go to Schedule K ⮕ Other Schedule K Items.
2. Under the Income (Loss) section, select Other income (loss) (Click on button to expand).
3. Under the K-1 CODE (CLICK ON ARROW TO SELECT) 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.