Business & farm

You are asking this from TT Premier so not sure if you are using TT Business to complete a form 1065 or if you are asking this because that section of your K-1 is blank.

In preparing the form 1065 Schedule B has a number of questions.  In particular, question 6 asks about the size of the partnership receipts and assets.  If this question is answered "no", then Section L of the K-1 will not be completed.

Many who prepare form 1065 answer this "yes" regardless as this information may be informational to the recipient of the K-1. 

*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.