Some items reported on your Schedule K-1 (Form 1065) may need to be entered directly into a specific form instead of the K-1 entry screen. Below is a list of items that are not entered directly into Form 1065, Schedule K-1 within the program. Please find the specific item within Box 17 that is reported on your Form 1065.
Codes D and E - Oil, gas & geothermal properties - gross income and deductions
Amounts reported here reflect Gross Income (Code D) and deductions related to oil, gas and geothermal properties include in Box 1 of Schedule K-1 (Code E). Typically, the partnership will attach a statement with additional information about income and deductions apportion-able to properties included in boxes 2 through 13, 18 and 20 of your Schedule K-1. The amounts reported on this statement can assist you with figuring the net amount to enter on line 26 of Form 6251.
To enter this within the program, please take the following pathway:
- Federal
- Other Taxes
- Alternative Minimum Tax (Form 6251)
- Enter the net amount figured into the field titled "Intangible drilling costs preference".
Code F - Other AMT items
On the statement attached by the partnership you will find relevant information to enter on Form 6251.
To enter this within the program, please take the following pathway:
- Federal
- Other Taxes
- Alternative Minimum Tax (Form 6251).
Source: IRS Form 1065, Schedule K-1 Partnership Instructions