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.

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.

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.

Form 1065, Lines 1-21

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

Partner's Capital Account Analysis

This is based on the partner's share of the amounts on the Schedule M-2. They can be entered by going to Input Return ⮕Balance Sheet, M-1, M-2 ⮕Sch M-2 (Capital Account)

For full walkthrough of Form 1065 in ProConnect Tax, see here.