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On Schedule K-1 (Form1065) line19 Questions

Family Partnership that is involved in more then one activity.   Line 1 is the combination of the 2 lines of business total.  TT makes one fill out 2 K1s, one for each activity.  I see the break down on the worksheets from the account about most of the lines, however, the distribution we received is not listed anywhere, on any of the work sheets.  Since the income is split between two items, does the distribution get split between them as well? If not, which K1 does that line get added to? Does it matter?

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1 Reply
PatriciaV
Employee Tax Expert

On Schedule K-1 (Form1065) line19 Questions

If you know which activity generated the cash available for the distribution, enter Box 19 on the Schedule K-1 for that activity. Otherwise, split the distribution based on percentage of total income from each activity.

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