How do I input a Schedule K-1 footnote with a 1065 return using interview in CCH® ProSystem fx® Tax?
- Article Type:
- How To
- Last Modified:
- 11/05/2022
Objectives
How do I enter a Schedule K-1 footnote in a 1065 return using interview
Environment
CCH Prosystem Fx
1065
Interview
1065
Interview
Procedure
- Go to Federal Interview Form 12.
- In Boxes 30-32 - FS, State, City, select options applicable to the footnote, if it should only apply to a specific tax authority.
- In Boxes 33-39, enter the applicable information.
- In Boxes 52-242 - Description and/or Amount column, enter the footnote.
- Note: There is a 60 character limit per line.
- Calculate the return.
- The K-1 footnote input defaults to prepare for partners whose share of an item is $1 or more.
- To change the default, in Box 35 - Print option code, select from the following options:
- All partners with profit/loss pcts (default)
- To change the default, in Box 35 - Print option code, select from the following options:
- General partners with P/L pcts only
- Limited partners with P/L pcts only
- All partners (allocate amount)
- All partners (entire amount to each)
- Partner-specific footnotes can be created using Box 33 - Partner Number.
- Ratio allocation is available in box 34 - Ratio ID number, and boxes 56-245 - Ratio ID No., to specially allocate the entire footnote, and/or specific lines of each footnote.
Additional Information
N/A
| Solution Id | 000238148/000107990 |
|---|---|
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