K-1s for 1065

Summary

Taxpayers who are partners in partnerships (or members in LLCs taxed as partnerships) should receive a Schedule K-1 (Form 1065). This course examines what you need to know to properly report the information provided to a partner on Schedule K-1. You’ll learn how to consider the various elections available and whether they are made by the partner or the partnership. Finally, you’ll look at certain deductions the partner may have that are not reported on the Schedule K-1.

Objectives

Upon completion of this course, you will be able to:

  • Determine the partner’ basis, at-risk, and passive limitations.
  • Identify the elections made at the partner level (versus the ones made at the partnership level).
  • Describe the various items reported on Schedule K-1.
  • Correctly report Schedule K-1 information on the partner’s return.
  • Report items on the partner’s return that are associated with the partnership interest but not reported on Schedule K-1.

Course Details

This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.






   

Presented by:

How to Earn CPE

To receive credit for this self-study course, you must successfully pass the course exam with a score of 70% or better.

The course and exam will expire one year from the date of purchase.

Cancellation Policy

​Because this is an online education offering, it is nonrefundable.

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