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Federal input screens

Screen K1-5 - Form 1065/1041 Schedule K-1 - AMT and Other (1065)

Overview

Use this screen to enter data from Schedules K-1 received from other partnerships, estates, or trusts where the current partnership is a partner or beneficiary. Enter data from the current partnership in all other screens. The information in this screen automatically transfers to all related forms and schedules.
Screen arrangement
To the left of each field in the K1-5 Screen, the application details the Form 1065 and Form 1041 Schedule K-1 line and code reference number, if applicable. The line reference and code number indicates where to enter each item from the passthrough Schedule K-1.
Data sharing
You can automatically share K-1 financial data among all 1040, 1041, 1120, and 1065 clients. For clients that are partners in a partnership, you can choose to share the Schedule K-1 financial data in total or by activity. (Financial data can transfer
into
 1120C clients, but not
out of
 these clients.) For details, see Data sharing overview.

Other Information

In addition to the fields in this screen, the application automatically calculates and transfers the following items from Schedules K-1 received from other partnerships, estates, or trusts in which the current partnership is a partner or beneficiary from the 4136, 4136-2, 4136-3, K13468, K1Sale, 8824PT, and OthAsset Screens to the Schedule K, Other Information section.
  • Fuel tax credit information
  • Qualified rehabilitation expenditures (other than rental real estate)
  • Basis of energy property
  • Dispositions of property with section 179 deductions
  • Recapture of section 179 deduction
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