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We've noticed that when printing K-1's, the sheet that explains the box codes does not print in 2020. Is there a new setting to get this to print? We cannot seem to find it. Thanks!
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It is called "page 2." Do you have the box checked on the Info Worksheet to prevent page 2?
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See the instructions. IRS no longer includes a list of codes as page 2. the program automatically puts NO in this option. I haven't looked, but the help says the list is available as part of the partner instructions.
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On the Information Worksheet, same worksheet you entered the partnership name, address, ID #, scroll down to Part IV, Partner Printing Options Include page 2 of Schedules K-1 code descriptions and mark the box
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That option is no longer available. In 2020 the IRS does not provide a Code page 2.
That's why the box you refer to is automatically marked "No" and can not be changed.
Codes now included in separate K-1 instructions.
This is also true for 1120S K-1s.
It is available for 1041 K-1s.
Go figure.