To enter a K-1 (Form 1065) in TaxSlayer from the Main Menu of the Tax Return (Form 1040) select:
- Federal Section
- Income Menu
- Other Income
- 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).
Part III - Partner's Share of Current Year Income, Deductions, Credits, etc.
Self Employment Earnings
- Line 14A - Net Earnings (Loss) from Self-Employment
- Line 14B - Gross Farming Income
- Line 14C - Gross Non-Farm Income
- Line 15O - Backup Withholdings
Alternative Minimum Tax Items
- Line 17A - Post-1986 Depreciation Adjustment
- Line 17B - Adjusted Gain or Loss
- Line 17 C - Depletion (Other than Oil & Gas)
- Line 18A - Tax Exempt Interest Income
- Line 20A - Investment Income
- Line 20B - Investment Expenses
- Amount to Adjust from the Net Investment Income
NOTE: This is a guide on entering Schedule K-1 (Form 1065) into the TaxSlayer program. This is not intended as tax advice.