Is there a mapping of K-1 s from a 1065-B onto my client's 1040?
In particular:
Box 2 Taxable income from other activities
Box 3 Qualified dividends
Box 4b Net capital gain from other activities
Box 6 Net other AMT activities
If I understand your question, the K should populate from primary entries, and is then distributed to the K-1's in accordance with the chosen ratios
Sorry. I received this K-1. This form is not available in ProSeries. I'm wondering where these numbers go on my clients 1040. I'll revise question to make it clear! Thanks.
K-1 IS available in Proseries. Go to forms bar, expand Common Forms, you will see three k-1's. Choose the one that applies and fill it out..all will transfer to the proper places.
Yes, there are 3 K-1s available: Partnership, S-Corp, and Trust.
This is a K-1 1065-B Partner Share of Income from a Large Electing Partnership and is different! Hence my question!
MAKatz,
I'd never even heard of a 1065-B, but in googling it, YES the K-1 is vastly different than a regular 1065 K-1. Wish I had an answer for you.
