- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Where do you input on a form 1065 Items paid by partnership that flow to each partner k1. Ie long term care insurance life disability vision insurance ?
Which input form
Topics:
posted
July 21, 2023
7:51 AM
last updated
July 21, 2023
7:51 AM
2 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Where do you input on a form 1065 Items paid by partnership that flow to each partner k1. Ie long term care insurance life disability vision insurance ?
For a quick overview, see https://kb.drakesoftware.com/Site/Browse/10109/1065-Entering-Payments-for-Partner-Health-Insurance
Generally, the premiums are treated as guaranteed payments which the partners include in income (and the partnership can deduct unless the accounting results in a reduction in distributions to the partners). The partners can then deduct the premiums paid as adjustments to income.
July 21, 2023
8:13 AM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Where do you input on a form 1065 Items paid by partnership that flow to each partner k1. Ie long term care insurance life disability vision insurance ?
Your post indicates you are using TurboTax Online. In order to complete Form 1065, you must use TurboTax Business, which you can purchase here:
TurboTax Business CD/Download 2022-2023 | Desktop Business Tax Software (intuit.com)
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
July 21, 2023
8:13 AM
Still have questions?
Make a post