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Discussion:1065 Return Item K

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Discussion Forum Index --> Tax Questions --> 1065 Return Item K


Skq9545 (talk|edits) said:

7 January 2007
Question on Item K of the 1065 page 2. If the entity is an LLC classified as a partnership then I assume the answer to K is "Partnership". What is considered to be a disregarded entity? For some reason, using Lacerte, the software marks the answer to Questions 2 in schedule b as a yes to the question "Are any partners in this partnership also partnerships?" The only way I could get it to respond with a "No" was to change the answer to Item K to a disregarded entity. Any suggestions? Thanks, Skq9545

Www.cpa1.biz (talk|edits) said:

7 January 2007
ya,

each K-1 establishes a person or another entity being a partner which I have never seen. You have only partners as it seems so just put "individual" on line K of the K-1.

I hope that helps.

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