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Partner information and Schedule K-1

Enter liabilities for Schedule K-1, item K

To generate Schedule K1, Item K1, Nonrecourse loans and a statement to go with it.
  1. In Organizer, go to
    Balance Sheet and Reconciliation
    Sch L
    Liabilities Alloc
     and select the check boxes to carry the liabilities to the appropriate partners.
  2. You can then nonrecourse loans at by going to
    Balance Sheet and Reconciliation
    Sch L
    Liabilities Detail
    .
  3. Enter
    pass through entity
     and
    name of activity
    . In both locations, you can enter special allocation codes. Coordinate your special allocation codes so that they don't conflict with each other.
  4. Select the tab
    K-1 Line
    , then go to Lines 16-21, Section: Sch K-1 Item K, Partner's Share of Liabilities.
If you use percentages in the special allocation codes, you can use the same allocation code for all non recourse loan entries.

This article applies to:

  • PRODUCT: ONESOURCE Income Tax
  • Return type: 1065 Partnership
  • Subject: Partners

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