Schedule K-1 packages are available for pass-through business entities (Partnerships, S-Corps and Fiduciaries). The K-1 package will include a letter, K-1 form, K-1 state forms, and any other applicable forms for each partner, shareholder, or beneficiary.
Follow these steps to print a K-1 package:
- Open the business entity's tax return.
- Go to the File Return tab.
- Select K-1 Package on the left-side menu.
- Click the button to Export zip file.
The zip file will be organized by partner, shareholder, or beneficiary names in the order you entered them in the program. You should send the K-1 package to each recipient to inform them of their income or loss.