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Level 4
posted Apr 16, 2022 11:59:59 AM

Should I enter K-1 ( form1065) from public traded company with my tax return ?

Hello,

 

I bought some stocks (PAA, MPLX, IEP and so on) with my brokerage account. I always report dividends and capital gain/losses. My question is should I report K-1 (form 1065)? I thought I should report K-1 with my tax return, however, in the first page of below link, it said "Do not file it with your tax return unless you are specifically required to do so". 

 

Should I report these K-1 from public traded companies with my tax return?

 

2021 Partner’s Instructions for Schedule K-1 (Form 1065) (irs.gov)

 

Thank you!

0 2 1064
1 Best answer
Level 9
Apr 16, 2022 12:10:22 PM

Yes.  The note you reference means that you don't need to send the physical copy of the K-1 to the IRS (the partnership actually does that already).  But you have to enter all the values on the K-1 into TT so that it can report them in the proper places.

2 Replies
Level 9
Apr 16, 2022 12:10:22 PM

Yes.  The note you reference means that you don't need to send the physical copy of the K-1 to the IRS (the partnership actually does that already).  But you have to enter all the values on the K-1 into TT so that it can report them in the proper places.

Level 1
Apr 16, 2022 12:13:06 PM

You enter the K-1 information with Turbo-tax

You do not include a copy of the K-1 with your return (it is automatically sent to the IRS)