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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