Desde Investopedia

TERM OF THE DAY

Schedule K-1 Schedule K-1 is a tax document used to report the incomes, losses and dividends of a partnership. The Schedule K-1 document is prepared for each individual partner and is included with the partner’s personal tax return. An S corporation reports activity on Form 1120S, while a partnership reports transactions on Form 1065.

Breaking it Down: While not filed with an individual partner’s tax return, the financial information posted to each partner’s Schedule K-1 is sent to.... Read More