Reporting Schedule K lines by activity on worksheets FAQ (1065)

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Question

Why aren’t all Schedule K lines reported by activity on the worksheets?

Answer

The activity based reporting worksheets only include items needed to prepare an accurately calculated UltraTax/1040 return. Information for the following, for example, is not required to be separately reported by UltraTax/1040: domestic production activities deduction (DPAD) and foreign transactions.

Use Screen KSup in the Partner Info, Basis folder to provide any additional information not already included on the activity based reporting worksheets.

Related topic: Activity based reporting FAQs

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