ProWeb – Form 1040 – Schedule K-1 (Form 1065) Entity Information

To enter a K-1 (Form 1065) in Keystone Tax Solutions from the Main Menu of the Tax Return (Form 1040) select:

1. Federal Section
2. Income Menu
3. Other Income
4. K-1 Earnings – Select ‘Begin’ next to Schedule K-1 (Form 1065).

See below basic information on each part of the Income section of the Schedule K-1 1065 Menu. For additional information regarding the requirements for Schedule K-1 (Form 1065) see: Partner’s Instructions for Schedule K-1 (Form 1065).

For detailed information about the options below, please click here.

Part II – Information About the Partner

• Check here if the partnership is Foreign
  
• Partnership belongs to

Part I – Information About the Partnership

• Partnership Name/EIN/Address

Check the box if… 

• K-1 is from Passive Entity
  
• There is an amount on line 2 and this is a NonPassive Entity and you Materially Participate
  
• There is an amount on line 2 and you Actively Participate
  
• All Investment is At-Risk
  
• Entire Interest in Investment has been disposed
  
• K-1 is from a Publicly Traded Partnership (PTP)
  
• Prior Year Unallowed Loss

NOTE: This is a guide on entering Schedule K-1 (Form 1065) into the Keystone Tax Solutions program. This is not intended as tax advice.

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Additional Resources:

Partner’s Instructions for Schedule K-1 (Form 1065

ProWeb – Form 1040 – Schedule K-1 (Form 1065) – Overview

ProWeb – Form 1040 – Schedule K-1 (Form 1065) – Income

ProWeb – Form 1040 – Schedule K-1 (Form 1065) – Deductions

ProWeb – Form 1040 – Schedule K-1 (Form 1065) – Credits