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Ghosts on the ledger
Payroll fraud is a major compliance risk. Learn how payroll analytics and AI-powered tools can help exorcise phantom employees and employers.
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Future of professionals report 2025
The Thomson Reuters Future of Professionals Report 2025 reveals how AI continues to shape professional work — and what it takes to get ahead. This year’s report shows that increased efficiency, productivity, and cost savings top the list of benefits professionals attribute to AI, making it indispensable for organizations facing rapid change.
Distribution in excess of partner basis in Schedules K-1
IRC section 705 states that partner basis can't be decreased below zero. When distributions or decreases in the partner's share of partnership liabilities would decrease the basis below zero, a deemed distribution restores the basis to zero.
note
To suppress this statement from displaying on Schedule K-1, box 20 - Other information, mark the
Suppress K1 supplemental detail of distributions in excess of basis
checkbox in the Basis Screen.This article applies to:
- PRODUCT: UltraTax CS
- Return type: 1065 Partnership
- Subject: schedule-k1-subject