Go to the IRS website (www.irs.gov) and print pages 1 and 2 of Schedule K-1 (Form 1065), Partners Share of Income, Deductions, Credits, etc. Review

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Go to the IRS website (www.irs.gov) and print pages 1 and 2 of Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc. Review the different elements of income which must be passed through to each partner and be reported as separately stated items. Review the numerous codes on page 2 of Schedule K-1 which identify additional items that are required to be separately stated.