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Do we need to report Final Schedule K-1 (form 1065) if final distributions were reported on W2 and taxed?
I received a Final Schedule K-1 form for 2020 as the partnership ended in 2020 (Cash distributions were made and taxes on those withheld).
I am trying to understand if I still need to report Final Schedule K-1 given that all the distributions were reported on W2 and the Federal and State taxes on that was withheld. Should I just leave Final Schedule K-1 out from my tax return now?
‎April 11, 2021
11:59 AM