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March 18, 2025
Question

What is FORMULA% on K-1?

  • March 18, 2025
  • 1 reply
  • 0 views

Under partner's share of profit section on K-1, both profit and loss are FORMULA% and capital is 1%. What is FORMULA%? Is it 0%? There are other sections that are blank and don't have any info such as capital contributed during the year and the increase (decrease). Is it '0' for those sections as well? Thanks!

    1 reply

    PatriciaV
    Employee
    March 18, 2025

    Please clarify if you received Schedule K-1 with missing information or are you preparing a business return that includes K-1s with missing information.

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