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Schedule K-1 - use INT, Div, CapG, Royalty WKT

  • ScheduleK-1 Tutor (pdf)During the interview look at all K-1s 
  • In-scope K-1s contain ONLY 
    • Interest 
    • Dividends (ordinary and qualified) 
    • Capital gains/losses (long or short) 
    • Royalties 
    • Foreign tax paid
 K-1s containing ANY other dollar amounts are out-of-scope. 

Check out both of the attachments below.


Don't Use the Sch K-1 form in TAXWISE ... only input on the TaxWise input forms for Interest Statement, Dividend Statement, Cap Gains Statement, Royalties and Foreign tax paid!

If there is any other entries on the Schedule K-1 ...it is Out of Scope ... you cannot do the return.

Much of the Schedule K-1 is OUT OF SCOPE.  BE CAREFUL!
Wayne Culp,
Jan 15, 2012, 12:19 PM
Wayne Culp,
Jan 27, 2011, 7:45 PM