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In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
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- I have a disregarded activity that receives a K-1. How do I input the K-1 so that it shows who the correct partner/passive activity it is under?
I have a disregarded activity that receives a K-1. How do I input the K-1 so that it shows who the correct partner/passive activity it is under?
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shanross888-hot
Level 1
11-11-2022
07:40 PM
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3 Comments 3
sjrcpa
Level 15
11-11-2022
07:42 PM
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Do you mean disregarded entity?
And who is the owner oft the disregarded entity?
If it is an individual, report the K-1 on the 1040 as if the individual owned the K-1 entity.
Ex-AllStar
shanross888-hot
Level 1
11-11-2022
07:47 PM
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This is a parent foreign corporation owning a domestic disregarded entity. The disregarded entity is an activity and should be the recipient of the K-1, not the parent. The partner on the K-1 is the disregarded entity. It reports on a consolidated return, but how do I show this relationship?
