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What is the purpose of Schedule K-1, Form 1065? a) It is used to report each partner's share of the partnership's income, deductions, and credits.

What is the purpose of Schedule K-1, Form 1065?

a) It is used to report each partner's share of the partnership's income, deductions, and credits.

b) It is used to report the partnership's income, deductions, and credits.

c) It is used to report each partner's share of the partnership's passive income, deductions, and credits.

d) It is used to report the partnership's active income, deductions, credits, and risk.

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