1040-US: K1 income items included in Form 6198 calculations

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Question

What K1 income items are automatically included in Form 6198 calculations?

Answer

The application automatically includes all income amounts entered in Screen K1-2 and the Other tax-exempt income field in Screen K1-5 and uses those amounts in the allocation of at-risk amounts. The application includes amounts entered in the Nondeductible expenses field in Form 6198, Part I, Other deductions and uses those amounts in the allocation of at-risk amounts. Amounts entered in the Cash and marketable securities distributions and Property distributions fields in Screen K1-5 are included as decreases to at-risk basis in the simplified and detailed method calculations.

Related topic: Form 6198 - At-risk calculations FAQs (1040)

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