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an LLC (partnership) received a K-1, how is this entered in the form 1065

dbtaxsolutions
Level 4

So a couple owns an LLC and needs to file Form 1065. But this same LLC is a member of another company form which the LLC received a K-1 report, how is this k-1 entered in form 1065? 

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dd4vols
Level 10
Level 10

if you are a partnership that has an interest in another partnership..(i.e. gets a Form 1065 Schedule K-1) from that partnership then do this.

In the Forms Bar>>Common Forms>>K-1 Partner.  You will enter the partnership info from the K-1 (name, FEIN,etc)   .. and the applicable amounts on the appropriate lines.  

If an answer solves your issue, click on the "Accept as Solution" button! Makes it easier for people to find answers to similar questions that have already been posted.

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2 Comments 2
dd4vols
Level 10
Level 10

if you are a partnership that has an interest in another partnership..(i.e. gets a Form 1065 Schedule K-1) from that partnership then do this.

In the Forms Bar>>Common Forms>>K-1 Partner.  You will enter the partnership info from the K-1 (name, FEIN,etc)   .. and the applicable amounts on the appropriate lines.  

If an answer solves your issue, click on the "Accept as Solution" button! Makes it easier for people to find answers to similar questions that have already been posted.
dbtaxsolutions
Level 4

dd4vols:  Thank you so much. I did try it and it is there and it works. Thanks