Print or suppress items in the K-1 package
The K-1 package is a print option that creates a collated print file with all the related federal and state forms bundled together for a partner.
How to suppress Schedule K-1, Line 20z detail for Section 199A?
The only way to suppress this statement is to go to and mark the
Line 20 Other Information Detail
link. Removing the amount under Line 20z
in the yellow workpaper will suppress the statement.note
The suppression option in tab suppresses Activity detail, not the statement itself. With this option checked, the statement will still print, but it will only show 1 line item instead of detail for each activity.
To select the states/cities to print in the K-1 package:
- Go toOrganizer,Partner Information, and thenCommon Partner Data.
- SelectK-1 Package Print Options.
- SelectSelected K-1sif you want to specify the partner K-1s that you want to include. The default's to include all partners.
- In theFederalsection, you can select to suppress printing of many forms.
- In theStates and Citiessection, you can select to print or suppress any or all states and cities.
- Additional Schedule K-1 print options are set inOrganizer,General Information,Return and Print Options.
- SelectSch K, K-1 and Activity Schedules.
- SelectAdditional Sch K-1 Options, such as Schedule K-1, Page 2, and Partner Activity Schedules.note1065 Federal: Form 1065 Schedule K-1 Item L FAQ
- How can I specially allocate/change the values for the "Current Year Increase/Decrease"?Go to tab, underNet Income Per Books - Allocations Override.
- Why is "Current Year Increase/Decrease" no longer printing a detail statement?Go to tab, underNet Income Per Books - Allocations Override. There is a note: "Warning: Both options will suppress Schedule K-1, item L current year increase/decrease detail schedules." The detail statement will be suppressed if either of the Net Income per Books options (override or checkbox) is used.
- Can I calculate the "Current Year Increase/Decrease" based on Tax Basis instead of Book Basis?GoSystem Tax RS is designed to calculate theCurrent Year Increase/Decreasebased on Book Basis.
- Why does the workpaper underneath "Current Year Increase/Decrease" show a different number than the face of the Schedule K-1?If theCurrent Year Increase/Decreasefield on the Schedule K-1 is showing a different amount than the workpapers behind it, go to tab and make sure that the checkbox is unmarked toAllocate net income per books by the default ratio. Perform a full recompute.
- How can I remove the amount from "Ending Capital Account" and have it be blank?Go to tab, underNet Income Per Books - Allocations Override, clear theAllocate net income per books by default allocation ratioscheckbox.
- Why is my ending capital not populating? I don't have any overrides.Go to:
- and check the checkbox to make sure partner allocations are enabled, and
- in theTimesection, selectEffectiveand perform a full recompute.
- Where do I enter "Capital Contributed During The Year"?Go to tab, enter an Allocation Code for capital contributions and perform a full recompute.
- How do I suppress the Item L Reconciliation of Income?Go to tab, under theSchedule K, and Schedule K-1 Print Suppression Optionssection, selectPartner's share of Schedule M, lines 3, 4 and 7and perform a full recompute.
- How do I print the Item L Reconciliation of Income statement?Select the link to view the step-by-step process: Item L - Reconciliation is not printing
- Why is Item L showing blank in Print Preview, but populated in Tax Forms?Schedule K-1Item L, Partner's capital account analysis, will show in Tax Forms but print blank if is answeredYes. If Yes, the partnership is not required to completeSchedules L, M-1, and M-2;Item Fon page 1 of Form 1065; orItem Lon Schedule K-1. To force printItem Leven though it is not required, go to tab. Under theSchedules L, M-1, M-2 and K-1 Item L Print Optionssection, select the checkbox toPrint Schedules L, M-1, M-2, K-1 Item L, and Form 1065 Page 1 Item F amounts and detail when Form 1065, Page 3, Schedule B, line 6 is "Yes."
- Why is the "Tax Basis" checkbox marked in Tax Forms, but not showing up in Print Preview?Go to , check the checkbox forForm 1065, Page 1 Item F when Form 1065, Page 2, Schedule B, line 5 is Yesand perform a full recompute.
