Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Income — Rental and Schedules K-1

Schedule K-1

What is reported on Schedule K-1?

Schedule K-1 is used to report the taxpayer's share of income and other distributions, deductions, and credits from partnerships, S corporations, and some estates and trusts. One copy of Schedule K-1 is sent to the IRS which is later matched with individual returns. Another copy of Schedule K-1 is sent to the taxpayer. Ask taxpayers if they received income from a Schedule K-1 entity that reflects their share of income, reportable on their Form 1040. It is very important to correctly report this income to avoid notices or correspondence from the IRS.

Form 1065 Schedule k-1.
Form 1065_schedule_k1

Form 1065_schedule_k1