How do I get the nonrecourse, qualified nonrecourse, and recourse loans into Section K of a K-1?
Section K of the K-1 is calculated by filling out Schedule L, Line 18 - All Nonrecourse Loans. This is done in data entry of the 1065 return on Screen L - Assets, Liabilities, and Capital. Data from line 18 of Schedule L flows to Part II, line K, of the appropriate Schedule K-1, based on partner ownership percentage. Click on the F1 Field Help inside each field for more information or see IRS 1065 Instructions.
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If you would like to have the software allocate on something other than partner percentage, then the SA - Special Allocation links will allow you to do so. See the Related Links below for more information.
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