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Business & farm
PatriciaV,
Thank you for the answer. You are saying, when I fill out 1040, I should use the information from VK-1, not the K-1 that came from the 1065, right?
However, just for my understanding: 1065 and its associated K-1 are filed with IRS, while VK-1 is only filed with state of VA. When IRS process our 1040, they don't know what's on my VK-1. Wouldn't IRS's computer flag the discrepancy between what I entered on the 1040 vs what they had received from the 1065?
March 7, 2023
4:57 PM