Reporting Pass-Through Income on Individual Returns

Free CPA REG (Taxation & Regulation) lesson in Federal Taxation of Individuals. 17 min read, ~2,531 words.

Schedule K-1 reports your share of pass-through items. Form 1065 K-1 from partnerships, Form 1120-S K-1 from S corps, Form 1041 K-1 from trusts and estates. Ordinary business income flows to Schedule E Part II. Interest and dividends to Schedule B. Capital gains to Schedule D. Each separately stated item...