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) from other activities 2012 Schedule K-1 (Form 1065-B) PARTNERSHIP S Employer I.D. number PARTNER S identifying number Partner s Share of Income (Loss) From an Electing Large Partnership Copy A 3 Qualified dividends PARTNER S name 4a Net capital gain (loss) from passive activities 4b Net capital gain (loss) from other activities Street address (including apt. no.) 5 Net passive AMT adjustment 6 Net other AMT adjustment 7 General credits 8 Low-income housing credit For Inter.

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The K-1 lists distributions withdrawals from income or from your capital account that you've taken during the tax year. These distributions are not what you're taxed on. You pay tax on your share of the LLC's income, whether you withdraw it or keep it in the company.

More In Forms and Instructions The partnership files a copy of Schedule K-1 (Form 1065) with the IRS to report your share of the partnership's income, deductions, credits, etc.

Although withdrawals and distributions are noted on the K-1, they generally aren't considered to be taxable income. Partners are taxed on the net income a partnership earns regardless of whether or not the income is distributed.

The Schedule K-1 is an Internal Revenue Service (IRS) tax form issued annually for an investment in partnership interests. The purpose of the Schedule K-1 is to report each partner's share of the partnership's earnings, losses, deductions, and credits.

You can't file your individual income tax return without your K-1's.

A Schedule K-1 is a tax document used to report the incomes, losses, and dividends of a business's partners or an S corporation's shareholders. ... An S corporation reports activity on Form 1120S, while a partnership reports transactions on Form 1065.

Report your section 951A income on Schedule 1 (Form 1040), line 8, or the comparable line of your income tax return.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232