2020 Form 1065, Schedule K-1 - Drake Software
2020 Form 1065, Schedule K-1
-- Line amount data flow in 1040 package --
Line:
Code:
1
K-1 Description:
Activity
Type:
Ordinary business income (loss)
A, B
2
Net rental real estate income (loss)
3
Other net rental income (loss)
C, D
A, B
C, D
A, B
C, D
4a
4b
5
6a
6b
6c
Guaranteed payment services
Guaranteed payment capital
Interest income
Ordinary dividends
Qualified dividends
Dividend equivalents
A, B
C, D
7
8
9a
9b
9c
A
B
C
10
Royalties
Net short-term capital gain (loss)
Net long-term capital gain (loss)
Collectibles (28%) gain (loss)
Unrecaptured Section 1250 Gain
Sale or exchange of partnership¡¯s business assets
Sale or exchange of an interest in a partnership
Estate, trust, RIC, or REIT
Net section 1231 gain (loss)
A, B
C, D
11
A
Other Income (Loss)
Other portfolio income (loss)
Flows To:
Form 8582, line 1 or 3 to figure the amount to report on Sch E, line 28,
columns (g) or (h)
Sch E, line 28, column (i) or (k)
Form 8582, line 1 or 3 to figure the amount to report on Sch E, line 28
Sch E, line 28, column (i) or (k)
Form 8582, line 1 or 3 to figure the amount to report on Sch E, line 28,
columns (g) or (h)
Sch E, line 28, column (i) or (k)
Sch E, line 28, column (k)
Sch E, line 28, column (k)
Form 1040, 1040-SR, or 1040-NR, line 2b, or Sch B, line 1
Form 1040, 1040-SR, or 1040-NR, line 3b, or Sch B, line 2
Form 1040, 1040-SR, or 1040-NR, line 3a
Form 1040-NR, Sch NEC, line 1c; preparer will need to determine if and
where to enter for Form 1040 or 1040-SR
Form 1040-NR, line 3b; preparer will need to determine if and where to
enter for Form 1040 or 1040-SR
Sch E, Part I, line 4
Sch D, line 5, column (h)
Sch D, line 12, column (h)
28% Rate Gain Worksheet, line 4
1250 Worksheet, line 5 or 11
1250 Worksheet, line 10
1250 Worksheet, line 11
Form 8582, line 1 or 3 to figure the amount to report on Form 4797, line 2,
column (g)
Form 4797, line 2, column (g)
Sch 1, line 8 and Form 8960, line 7
Line:
11
Code:
K-1 Description:
E1
F
Cancellation of debt (passive)
**Reserved**
G
H
IA
IB
IC
**Reserved**
Subpart F income other than 951A and 965 inclusion
Recovery tax benefit items
Gambling winnings
Gambling winnings from trade or business
B
C
D
E
ID
IE
Gambling losses
Gambling losses from trade or business
IF
751b gain (loss)
IG
Specially allocated ordinary gain
IH
II
Short-term capital gain (loss) ¨C Not portfolio income
Long-term capital gain (loss) ¨C Not portfolio income
Section 179 deduction
12
13
Involuntary conversions
Section 1256 contracts & straddles
Mining exploration costs recapture
Cancellation of debt
A
B
C
Other Deductions
Cash contributions (60% AGI limitation)
Cash contributions (30% AGI limitation)
Noncash contributions (50% AGI limitation)
D
Noncash contributions (30% AGI limitation)
E
Capital gain property (30% AGI limitation)
Activity
Type:
A, B
C, D
A, B
C, D
A, B
C, D
A, B
C, D
A, B
C, D
A, B
C, D
Flows To:
Basis worksheet and/or at-risk limitation worksheet only
Form 6781, line 1
**If present, preparer will determine where to report on the return**
Sch 1, line 8; if Form 982 is used, delete this entry and instead enter it on
the Basis Worksheet screen, line 3l, and complete screen 982
Sch E, line 28, column (h)
**If present, preparer will determine where to report on the return**
**If present, preparer will determine where to report on the return**
**If present, preparer will determine where to report on the return**
**If present, preparer will determine where to report on the return**
Sch 1, line 8 (to the extent it reduced the tax previously)
Sch 1, line 8
Form 8582, line 1 or 3 to figure the amount to report on Sch E, line 28,
column (h)
Sch E, line 28, column (k)
Sch A, line 16
Form 8582, line 1 or 3 to figure the amount to report on Sch E, line 28,
column (g)
Sch E, line 28, column (i)
Form 8582, line 1 or 3 to figure the amount to report on Form 4797, line 10
Form 4797, line 10
Form 8582, line 1 or 3 to figure the amount to report on Form 4797, line 10
Form 4797, line 10
Sch D, line 5
Sch D, line 12
Basis Worksheet and/or At-Risk Limitation Worksheet
Sch E, line 28, column (j)
Sch A, line 11
Sch A, line 11
Sch A, line 12 or, if the total of all noncash contributions is greater than
$500, Form 8283
Sch A, line 12 or, if the total of all noncash contributions is greater than
$500, Form 8283
Sch A, line 12 or, if the total of all noncash contributions is greater than
$500, Form 8283
Line:
13
Code:
K-1 Description:
G
Contributions (100%)
H
I
JA
JB
JC
JD
K
L
M
N
Investment interest expense
Deductions ¨C Royalty income
Section 59e expenditures (Circulation)
Section 59e expenditures (Research)
Section 59e expenditures (Mining)
Section 59e expenditures (Intangible drilling)
Excess business interest expense
Deductions ¨C Portfolio (Other)
Amounts paid for medical insurance
Educational assistance benefits
O
RA
RB
S
Dependent care benefits
IRA
Qualified plan, SEP, or SIMPLE IRA plan
Reforestation expense deduction
F
Capital gain property (20% AGI limitation)
Activity
Type:
A, B
C, D
A, B
C, D
V
**Reserved**
WA
Interest expense allocated to debt-financed distributions
A, B
C, D
A, B
C, D
WB
WC
Interest expense allocated to debt-financed distributions
Interest paid or accrued on debt properly allocable to
taxpayer¡¯s share of a working interest in any oil or gas
property
Interest paid or accrued on debt properly allocable to
taxpayer¡¯s share of a working interest in any oil or gas
property
Flows To:
Sch A, line 12 or, if the total of all noncash contributions is greater than
$500, Form 8283
Basis Worksheet and/or At-Risk Limitation Worksheet; preparer will need to
decide how to handle this deduction
Form 4952, line 1
Sch E, line 19, with ¡°Royalty Ded. From K1¡± literal
Sch E, line 28
Sch E, line 28
Sch E, line 28
Sch E, line 28
Form 8990, line 43, column (c)
Sch A, line 16
WK_SEHID, line 1
Form 8582, line 1 or 3 to figure the amount to report on Sch E, line 28,
column (g)
Sch E, line 28, up to $5,250 (separate line)
Form 2441, line 12
IRA Worksheet
Sch 1, line 15
Form 8582, line 1 or 3, to figure the amount to report on Sch E, line 28,
column (g)
Sch E, line 28, column (i) with "Reforestation expense deduction" literal in
column (a)
**If present, preparer will determine where to report on the return**
**If present, preparer will determine where to report on the return**
Form 8582, line 1 or 3 to figure the amount to report on Sch E, line 28,
column (g)
Sch E, line 28, column (i), with [partnership name] and ¡°Interest Expense¡±
literal in column (a)
Form 4952, line 1
Form 4952, line 1
A, B
Form 4952, line 1
C, D
Sch E, line 28, column (i), with [partnership name] and ¡°Interest Expense¡±
literal in column (a)
Line:
13
Code:
WD
WE
WF
K-1 Description:
CCF
Interest penalty ¨C Early withdrawal
Film and television production expense
Activity
Type:
A, B
C, D
14
15
PD
PE
PF
PG
PH
Self-employment Earnings (Loss)
Net earnings (loss) from self-employment
Gross farming or fishing income
Gross non-farm income
Credits
Low-income Housing Credit (section 42(j)(5)) pre-2008
Low-income Housing Credit (other) pre-2008
Low-income Housing Credit (section 42(j)(5)) post-2007
Low-income Housing Credit (other) post-2007
Undistributed Capital Gains Credit
Biofuel Producer Credit (Form 6478)
Work Opportunity Credit
Disabled Access Credit
Empowerment Zone and Renewal Community
Employment Credit
Credit for Increasing Research Activities
Credit for Increasing Research Activities (eligible small
business)
Credit for Employer Social Security and Medicare Taxes
Backup withholding
**Reserved**
Unused Investment Credit from Cooperatives (Form
3468, Part II)
Unused Investment Credit from Cooperatives (Form
3468, Part III)
Orphan Drug Credit
Renewable Electricity and Refined Coal Production Credit
Renewable Electricity and Refined Coal Production Credit
Indian Employment Credit
Biodiesel Fuels Credit
PI
New Markets Credit
A
B
C
A
B
C
D
H
I
J
K
L
MA
MB
N
O
PA
PB
PC
Flows To:
Form 1040 or 1040-SR, line 15, with literal ¡°CCF¡±
Sch 1, line 17
Form 8582, line 1 or 3 to figure the amount to report on Sch E, line 28,
column (g)
Sch E, line 28, column (i)
Sch SE
Sch E, line 42
**Preparer will need to determine how to handle amounts entered here**
Form 8586, line 4 and Form 3800, Part III, line 1d
Form 8586, line 4 and Form 3800, Part III, line 1d
Form 8586, line 11 and Form 3800, Part III, line 4d
Form 8586, line 11 and Form 3800, Part III, line 4d
Sch 3, line 13; checking box ¡°a¡± (2439) adds words ¡°Form 1065¡±
Form 3800, Part III, line 4c
Form 5884, line 3 and/or Form 3800, Part III, line 4b
Form 8826, line 7 and/or Form 3800, Part III, line 1e
Form 8844, line 3 and/or Form 3800, Part III, line 3
Form 6765, line 37 and/or Form 3800, Part III, line 1c
Form 6765, line 37 and/or Form 3800, Part III, line 4i
Form 8846, line 5 and/or Form 3800, Part III, line 4f
Form 1040, 1040-SR, or 1040-NR, line 25c
**If present, preparer will determine where to report on the return**
Form 3468, line 9 and Form 3800, Part III, line 1a
Form 3468, line 13 and Form 3800, Part III, line 4a
Form 8820, line 3 and/or Form 3800, Part III, line 1h
Form 8835, line 19 and/or Form 3800, Part III, line 1f
Form 8835, line 19 and/or Form 3800, Part III, line 4e
Form 8845, line 5 and/or Form 3800, Part III, line 1g
Form 8864, line 9 and/or Form 3800, Part III, line 1l; if partnership furnishes
a statement, preparer must determine where to enter
Form 8874, line 2 and/or Form 3800, Part III, line 1i
Line:
15
Code:
PJ
PK
A
Credit for Small Employer Pension Plan Startup Costs
Credit for Employer-provided Childcare Facilities and
Services
Low Sulfur Diesel Fuel Production Credit
Qualified Railroad Track Maintenance Credit
Distilled Spirits Credit
Energy Efficient Home Credit
Alternative Motor Vehicle Credit
Alternative Fuel Vehicle Refueling Property Credit
Mine Rescue Team Training Credit
Credit for Employer Differential Wage Payments
Carbon Oxide Sequestration Credit
Qualified Plug-in Electric Drive Motor Vehicle Credit
Small Employer Health Insurance Premium Credit
Employer credit for Paid Family and Medical Leave
Oil and Gas Production from Marginal Wells (Form 8904)
Employee Retention Credit (Form 5884-A)
Small Employer Auto-Enrollment Credit
Alternative Minimum Tax (AMT) Items
Post-1986 depreciation adjustment
B
Adjusted gain or loss
C
Depletion (other than oil & gas)
F
Other AMT items
A
Tax-exempt Income and Nondeductible Expenses
Tax-exempt interest income
PL
PM
PN
PO
PP
PQ
PR
PS
PT
PU
PV
PW
PX
PY
PZ
17
18
B
C
19
20
K-1 Description:
A
B
C
Other tax-exempt income
Nondeductible expenses
Distributions
Cash and marketable securities
Section 737 distributions
Other property
Other Information
Activity
Type:
Flows To:
Form 8881, line 3 and/or Form 3800, Part III, line 1j
Form 8882, line 5 and/or Form 3800, Part III, line 1k
Form 8896, line 7 and/or Form 3800, Part III, line 1m
Form 3800, Part III, line 4g
Form 3800, Part III, line 1n
Form 3800, Part III, line 1p
Form 3800, Part III, line 1r
Form 3800, Part III, line 1s
Form 3800, Part III, line 1u
Form 3800, Part III, line 1w
Form 3800, Part III, line 1x
Form 8936, line 13 and/or Form 3800, Part III, line 1y
Form 8941, line 15 and/or Form 3800, Part III, line 4h
Form 3800, Part III, line 4j
Form 3800, Part III, line 1zz
Form 3800, Part III, line 1aa
Form 3800, Part III, line 1j
A, B
C, D
A, B
C, D
A, B
C, D
A, B
C, D
Form 6251, line 2m
Form 6251, line 2l
Form 6251, line 2m
Form 6251, line 2k
Form 6251, line 2m
Form 6251, line 2d
Form 6251, line 2m
Form 6251, line 3
Form 1040, 1040-SR, or 1040-NR, line 2a and Adjusted Basis Worksheet,
line 3i
Adjusted Basis Worksheet, line 3i
Adjusted Basis Worksheet, line 8
Adjusted Basis Worksheet, line 6
Adjusted Basis Worksheet, line 6
Adjusted Basis Worksheet, line 6
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