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Skiparoo
New Member

Schedule k-1 box number 5. why would there be a dollar amount in box 5?

 
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ToddL
New Member

Schedule k-1 box number 5. why would there be a dollar amount in box 5?

I f you have an entry in Box 5 of Schedule K-1, the Partnership had interest income (or the Corporation had dividend income or the Estate Trust had portfolio/non-business income). 

Since interest/dividend/portfolio income is passive, non-business income, it is subject to different tax treatment than other types of income and must be reported separately on the K-1 (and your tax return).  

If you have a dollar amount in box 5 of your Schedule K-1, you had one of these types of income. 

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ToddL
New Member

Schedule k-1 box number 5. why would there be a dollar amount in box 5?

I f you have an entry in Box 5 of Schedule K-1, the Partnership had interest income (or the Corporation had dividend income or the Estate Trust had portfolio/non-business income). 

Since interest/dividend/portfolio income is passive, non-business income, it is subject to different tax treatment than other types of income and must be reported separately on the K-1 (and your tax return).  

If you have a dollar amount in box 5 of your Schedule K-1, you had one of these types of income. 

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