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Business & farm
Form 4136 - Credit for Federal Tax Paid on Fuels is not available for partnerships.
According to the Instructions for Form 4136:
Partnerships (other than electing large partnerships) can’t file this form. Instead, they must include a statement on Schedule K-1 (Form 1065) showing the allocation to each partner specifying the number of gallons of each fuel used during the tax year, the applicable credit per gallon, the nontaxable use or sale, and any additional information required to be submitted.
You will have to add the data manually to each partner's K-1. To do this, please follow these steps:
- Go into Forms Mode by clicking the Forms icon on the top right of your screen.
- From the Forms in My Return list, select the K-1 for the first partner [Schedule K-1 (name)].
- Scroll down to the Supplemental Information Smart Worksheet, below line 20, and add the information. [NOTE: TurboTax rounds numbers, so if the number you want to enter contains decimal spaces (.35 or 1.25 for example), you'll need to put the amount in the section with the description and not the box at the end of the line.
- Continue the process with each partner's K-1. The sheet will print with the K-1.
[Edited | 3/8/2019 | 12:24 pm PST]
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June 6, 2019
1:10 AM