justataxnerd
Level 3
02-24-2021
05:29 PM
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The following language probably needs to be removed from the 2020 default partnership client cover letter:
"Be sure to give each partner a copy of the Partner's Instructions for Schedule K-1"
As far as I know the IRS did away with the one page list of box code and instructions for 2020. It's all in the 1065 instructions now, isn't it? Imagine if you had to give each partner a copy of that document?
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sjrcpa
Level 15
02-24-2021
05:52 PM
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IRS did away with Page 2 of the K-1 that had the Codes. There are still Partner's Instructions for Schedule K-1, which contain the codes on pages 21-24.
Ex-AllStar
