This K-1 sounds like a "Substitute K-1" The line items should be in the same order as they appear on a standard K-1 (1041). (see example K-1 https://www.irs.gov/pub/irs-pdf/f1041sk1.pdf)
You should contact the issuing party if you need clarification about the way they have reported the information to you.
The following are the IRS requirements for substitute K-1s:
IRS requirements for Substitute K-1s accompanying fund tax forms
Substitute K-1s that accompany forms 1041, 1065, 1065-B, and 1120S (pooled income funds file a fund 1041 with the IRS) must meet the following requirements:
The Schedule K-1 must contain the name, address, and SSN or EIN of both the entity (estate, trust, partnership, or S corporation) and the recipient (beneficiary, partner, or shareholder).
The Schedule K-1 must contain the tax year, the OMB number, the schedule number (K-1), the related form number (1041, 1065, 1065-B, or 1120S), and the official schedule name in substantially the same position and format as shown on the official IRS schedule.
The Schedule K-1 must contain all the items required for use by the recipient.
The line items that are used must be in the same order and arrangement as those on the official form.
Each recipient's information must be on a separate sheet of paper. Therefore, all continuously-printed substitutes must be separated, by recipient, before filing with the IRS.
The amount of each recipient's share of each line item must be shown. Furnishing a total amount of each line item and a percentage (or decimal equivalent) to be applied to such total amount by the recipient does not satisfy the law and the specifications of this revenue procedure.
State or local tax-related information may not be included on the Schedules K-1 filed with the IRS.
The legend "Important Tax Return Document Enclosed" must appear in a bold and conspicuous manner on the outside of the envelope that contains the substitute recipient copy of Schedule K-1.
The entity may have to pay a penalty if substitute Schedules K-1 are filed that do not conform to the above specifications. In addition, the IRS may consider the Schedules K-1 as not processable and return Form 1041, 1065, 1065-B, or 11205 to the entity to be filed correctly.
This K-1 sounds like a "Substitute K-1" The line items should be in the same order as they appear on a standard K-1 (1041). (see example K-1 https://www.irs.gov/pub/irs-pdf/f1041sk1.pdf)
You should contact the issuing party if you need clarification about the way they have reported the information to you.
The following are the IRS requirements for substitute K-1s:
IRS requirements for Substitute K-1s accompanying fund tax forms
Substitute K-1s that accompany forms 1041, 1065, 1065-B, and 1120S (pooled income funds file a fund 1041 with the IRS) must meet the following requirements:
The Schedule K-1 must contain the name, address, and SSN or EIN of both the entity (estate, trust, partnership, or S corporation) and the recipient (beneficiary, partner, or shareholder).
The Schedule K-1 must contain the tax year, the OMB number, the schedule number (K-1), the related form number (1041, 1065, 1065-B, or 1120S), and the official schedule name in substantially the same position and format as shown on the official IRS schedule.
The Schedule K-1 must contain all the items required for use by the recipient.
The line items that are used must be in the same order and arrangement as those on the official form.
Each recipient's information must be on a separate sheet of paper. Therefore, all continuously-printed substitutes must be separated, by recipient, before filing with the IRS.
The amount of each recipient's share of each line item must be shown. Furnishing a total amount of each line item and a percentage (or decimal equivalent) to be applied to such total amount by the recipient does not satisfy the law and the specifications of this revenue procedure.
State or local tax-related information may not be included on the Schedules K-1 filed with the IRS.
The legend "Important Tax Return Document Enclosed" must appear in a bold and conspicuous manner on the outside of the envelope that contains the substitute recipient copy of Schedule K-1.
The entity may have to pay a penalty if substitute Schedules K-1 are filed that do not conform to the above specifications. In addition, the IRS may consider the Schedules K-1 as not processable and return Form 1041, 1065, 1065-B, or 11205 to the entity to be filed correctly.
Julie I appreciate the reply. Can you review my screenshot and let me know if you believe that this is a valid substitute? The issuing party informed me that it is a K-1 (1041), however, some of the line items (notably recourse and non-recourse debt) are from boxes that are found on a K-1 (1065) and the line items are out-of-order no matter which schedule K-1 this may be. The issuing party has provided no assistance at this point and the IRS now considers K-1 support out-of-scope. Struggling here...