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What is form K-1
Schedule K-1: Partner's Share of Income, Deductions, Credits, etc. (Form 1065)
Schedule K-1 shows a participant's share of a business's income, deductions and credits. The most common version is for Form 1065 partnerships: the partnership issues a K-1 to each partner, who uses the figures on their personal return.
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There are three main versions of Schedule K-1: for Form 1065 (partnerships), Form 1120-S (S corporations) and Form 1041 (trusts and estates).
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