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Common questions about Texas Miscellaneous Form 05-167 in ProConnect Tax

by ProConnect Tax Online Updated 3 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:

  1. Go to Input Return Schedule K-1  Schedule K-1 Miscellaneous
  2. Select the tab with the name of the partner you are wanting to exclude from the 05-167
  3. Scroll down on this screen to the Texas Information section
  4. Check the box labeled Exclude partner [Override]

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To exclude a Shareholder in an S-Corporation from Form 05-167:

  1. Go to Input Return Schedule K-1  Schedule K-1 Misc./Schedule B-1
  2. Select the tab for the Shareholder you would like excluded from the form along the top of this input screen
  3. Scroll down to the Texas Miscellaneous input section. 
  4. Check the box labeled Exclude partner from report

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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:

  1. Go to Input Return Partner Information Partner Information
  2. Scroll down to the Miscellaneous Information section
  3. Use the Type of Entity drop down input to select an entity type other than 1=Individual

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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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