The way you report the income from your Schedule K-1 on your Federal Form 1040 U.S. Individual Income Tax Return return depends on the type of K-1 received. There are three types of K-1s that this applies to:

• Schedule K-1 (Form 1065) Partner’s Share of Income, Credits, Deductions, etc.
  • To enter Schedule K-1 for Form 1065 (Partnerships), go to our Schedule K-1 (Form 1065) – Entering in Program FAQ.
• Schedule K-1 (Form 1120-S) Shareholder’s Share of Income, Credits, Deductions, etc.
  • To enter Schedule K-1 for Form 1120-S (S Corporation), go to our Schedule K-1 (Form 1120-S) – Entering in Program FAQ.
• Schedule K-1 (Form 1041) Beneficiary’s Share of Income, Credit, Deductions, etc.
  • To enter Schedule K-1 for Form 1041 (Estates & Trusts), go to our Schedule K-1 (Form 1041) – Entering in Program FAQ.

Related Links

• Schedule K-1 (Form 1065) – Purpose
• Schedule K-1 (Form 1120-S) – Purpose
• Schedule K-1 (Form 1041) – Purpose
• Partner’s Instructions for Schedule K-1 (Form 1065)
• Shareholder’s Instructions for Schedule K-1 (Form 1120-S)
• Instructions for Schedule K-1 (Form 1041) for a Beneficiary Filing Form 1040 or 1040-SR

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.