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The partnership files a copy of Schedule K-1 (Form 1065) with the IRS. For your protection, Schedule K-1 may show only the last four digits of your identifying number (social security number (SSN), etc.). However, the partnership has reported your complete identifying number to the IRS.
Code Sheet for Partners. According to IRS rules, a partnership filing Form 1065 and reporting passive activity (such as from investments) must provide each partner with their own Schedules K-1 and K-3 by the partnership’s tax deadline.
Where to report or where to find further reporting information. Page numbers refer to this instruction. 1. Ordinary business income (loss). Determine whether the income (loss) is passive or nonpassive and enter on your return as follows.
Schedule K-1 Codes (Form 1065) — Partnership Box Number / Item Where to report or where to find further reporting information. Page numbers refer to Instructions for Schedule K-1 (Form 1065). 1. Ordinary business income (loss). Determine whether the income (loss) is passive or nonpassive and enter on your return as follows. Passive loss See ...
List of Codes and References Used in Schedule K-1 (Form 1065) Box Number / Item Where to report or where to find further reporting information. Page numbers refer to these instructions.
Title. 2022 Partner’s Instructions for Schedule K-1 (Form 1065) Author. brenda. Created Date. 2/1/2023 1:36:48 PM.
Line: Code: K-1 Description: Activity Type: Flows To: 10 Net section 1231 gain (loss) A, B Form 8582, line 1 or 2 to figure the amount to report on Form 4797, line 2, column (g) C, D Form 4797, line 2, column (g) 11 Other Income (Loss) A Other portfolio income (loss) Sch 1, line 8z and Form 8960, line 7