brent
Level 3
02-23-2021
01:14 PM
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I also found you have to go to Screen 32.1>Partner Miscellaneous Info>Gross Receipts per Regulations 1.59A-7(e)(2) [O] and enter "-1" in the 1st preceding tax year, 2nd preceding tax year, and 3rd preceding tax year fields in order to suppress this information on the K1s. Again, our partnership and all of our partners are not "Applicable Taxpayers" for purposes of IRC §59A.
Thank you,
Brent