144429

If Schedule L, M-1 and M-2 are not required for us on form 1065 is Section L on Schedule K-1, Form 1065 required? IRS instructions for Schedule K-1 are non-existent.

posted

Connect with an expert

1 Best answer

Accepted Solutions

If Schedule L, M-1 and M-2 are not required for us on form 1065 is Section L on Schedule K-1, Form 1065 required? IRS instructions for Schedule K-1 are non-existent.

The instructions are specific in a couple of places.

Form 1065 Schedule B question 6 addresses this question.
The form 1065 instructions on page 26 address this question as well.

In your specific case, the answer is "no" based on your facts.

https://www.irs.gov/pub/irs-pdf/f1065.pdf

https://www.irs.gov/pub/irs-pdf/i1065.pdf

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

View solution in original post

2 Replies

If Schedule L, M-1 and M-2 are not required for us on form 1065 is Section L on Schedule K-1, Form 1065 required? IRS instructions for Schedule K-1 are non-existent.

The instructions are specific in a couple of places.

Form 1065 Schedule B question 6 addresses this question.
The form 1065 instructions on page 26 address this question as well.

In your specific case, the answer is "no" based on your facts.

https://www.irs.gov/pub/irs-pdf/f1065.pdf

https://www.irs.gov/pub/irs-pdf/i1065.pdf

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

If Schedule L, M-1 and M-2 are not required for us on form 1065 is Section L on Schedule K-1, Form 1065 required? IRS instructions for Schedule K-1 are non-existent.

Thank you! I skipped right past the fine print on B 6 where it says Item L on Schedule K-1 does not need to be completed.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post