sandralgarcia11 59
Level 1
08-23-2022
01:51 PM
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Hello,
I am looking for the Page 2 for K-1's which, up to 2019, was used to define all the codes on a K-1.
I am unable to locate it for the 2021 TY. Was this page eliminated? If so, what do we use to explain the various codes on a K-1?
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IRonMaN
Level 15
08-23-2022
01:56 PM
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The IRS eliminated page 2 in 2020. Unless you have a lot of the K-1 recipients manually preparing their own 1040, are the code descriptions really necessary?
Slava Ukraini!
PhoebeRoberts
Level 11
08-23-2022
01:56 PM
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The IRS removed that page from the K-1. The codes are explained in the shareholder's instructions to the K-1.
kgreen8393
Level 5
08-23-2022
02:53 PM
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I've noticed that many K-1's I received from other tax software include the pages from the K-1 instructions that show the codes as part of the K-1. However, this adds 4 extra pages to the K-1.