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Common questions about Texas Miscellaneous Form 05-167 in ProConnect Tax
by Intuit• Updated 4 months ago
The following articles are some top questions referring to Texas Miscellaneous 05-167. Other common questions can be found below.
Table of contents:
How to exclude a Partner/Officer/Shareholder from TX Franchise Report for form 05-167
To exclude a Partner in Partnership from Form 05-167:
- Go to Input Return ⮕ Schedule K-1 ⮕ Schedule K-1 Miscellaneous
- Select the tab with the name of the partner you are wanting to exclude from the 05-167
- Scroll down on this screen to the Texas Information section
- Check the box labeled Exclude partner [Override]
To exclude a Shareholder in an S-Corporation from Form 05-167:
- Go to Input Return ⮕ Schedule K-1 ⮕ Schedule K-1 Misc./Schedule B-1
- Select the tab for the Shareholder you would like excluded from the form along the top of this input screen
- Scroll down to the Texas Miscellaneous input section.
- Check the box labeled Exclude partner from report
The Texas Form 05-167 Texas Franchise Tax Ownership Information Report does not print the social security number for a partner
According to the Texas Form Instruction booklet: “If there is no FEI number for the owner(s), please leave the field blank. (Do not enter any social security numbers.)”
For a partner that is any entity other than an Individual, the identification number will print in the FEI Number field.
To change the partner’s entity type in the Partner Information screen:
- Go to Input Return ⮕ Partner Information ⮕ Partner Information
- Scroll down to the Miscellaneous Information section
- Use the Type of Entity drop down input to select an entity type other than 1=Individual
Partners are not printing on the TX Franchise Tax form 05-167
The partner has to be a general partner or a 10% or more partner.
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