How do I populate Schedule K-1, Line 21 for partners with a 1065 return using worksheet view in CCH® ProSystem fx® Tax and CCH Axcess™ Tax?
- Article Type:
- How To
- Last Modified:
- 07/28/2022
Objectives
To learn how to populate Schedule K-1, Line 21 for partners in a 1065 return using worksheet view in CCH® ProSystem fx® Tax and CCH Axcess™ Tax.
Environment
- CCH ProSystem fx Tax
- CCH Axcess Tax
- 1065
- Worksheet
- Schedule K-1
Procedure
- Go to Partners > Schedule K-2 - Distributive Share Items - International Parts 1-V Worksheet.
- Expand Section 12 - Schedule K-2 Part III Section 4 - Foreign Tax Options.
- In Line 1 - Foreign Taxes paid, select the checkbox, if applicable.
- In Line 2 - Foreign Taxes accrued, select the checkbox, if applicable.
- Expand Section 13 - Schedule K-2, Part III Section 4 - Foreign Tax Information.
- Select Detail.
- In Line 1 - Row code, select F4 (Lookup Value) and choose option 1 from the list.
- In Line 3 - Country Code, select F4 (Lookup Value) and choose an applicable country code from the list.
- In Line 5 - Type of tax, select F4 (Lookup Value) and choose an applicable tax type from the list.
- In Line 7 - Date tax paid, input an applicable date in format dd/mm/yyyy.
- In Lines 10-20 - 951A/Foreign Branch/Passive/General category income, input applicable amount.
- Calculate the return.
| Solution Id | 000137390/000137390 |
|---|---|
| Direct Link |
