TP was not an active partner and had more than 25 investment funds . TP received more than 25 K-1s from all these partnerships. But TP insisted that as he was not an active partner and these are investment funds partnerships, no separate reporting is needed on Form 1040 but aggregate all K-1s into one reporting.

TP wants to aggregate all K-1s on F1040 and not separate reporting. TP informed me that He got this from the IRS website. I suspect that TP wanted to do this so that the tax preparation fee is lower on one aggregation K-1 reporting instead on separate reporting (more than 25 K-1s).

Did you ever encounter this aggregation rules on multiple K-1s as I have not seen one? Where in The IRS website/instructions one can see that every K-1 should be reported on f1040 not aggregate all K-1s into one? My understanding is that each K-1 should be reported on f1040 not aggregate into one K-1 (different EIN #, different partnership, IRS filing center, capital accounts, etc,,,).

Thanks for your advice and comment.