Schedule K-1 Line L not populated from K-1 Worksheet

Forum|Forum|1 year ago
March 16, 2025
3 replies
52 views

Hello,

On the K-1 Wks (first image), I have information entered for each partner, however this information is not being auto-populated to the partner's Schedule K-1 Line L (second image) . The Wks fields have a magnifying glass icons that clearly shows it links to the matching line items on the K-1s. The K-1 forms cannot be modified directly as it receives its information from the Wks. Any suggestions how to get the K-1 Line L information to populate from the Wks?

Best answer by Mike9241

1065 Schedule B

4 Does the partnership satisfy all four of the following conditions?

a The partnership’s total receipts for the tax year were less than $250,000.
b The partnership’s total assets at the end of the tax year were less than $1 million.
c Schedules K-1 are filed with the return and furnished to the partners on or before the due date (including extensions)
for the partnership return.
d. The partnership is not filing and is not required to file Schedule M-3 . . . . . . . . . . . . . . .

If “Yes,” to all 4 items the partnership is not required to complete Schedules L, M-1, and M-2; item F on page 1 of Form 1065; or item L on Schedule K-1

Mike9241

Answer

Level 15

1065 Schedule B

4 Does the partnership satisfy all four of the following conditions?

If “Yes,” to all 4 items the partnership is not required to complete Schedules L, M-1, and M-2; item F on page 1 of Form 1065; or item L on Schedule K-1

Mike9241

EVMCAuthor

Level 2

Yes! I elected not to fill out Schedules L, M-1, and M-2 on the 1065 because my LLC meets all those conditions. I was not aware that it also applied to line L on the K-1s. Thanks so much for the helpful response, that cleared up my confusion!

KMJK

Level 4

I just spent 2 hours trying to figure out this same exact issue with the same understanding of line L on the K-1!!! Glad I found this string. Thank you!