In this video, we do a walkthrough of the Schedule K-1 for a Form 1065 partnership investment. We look at each income & deduction item and show you where these would be reported on the Form 1040 for our taxpayer.
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0:00 Intro and Background on Fact Pattern
2:59 Line 1 Ordinary Income with Form 8582 & Schedule E
7:45 Interest & Dividend income & Schedule B
10:20 Capital Gains on Schedule D
12:43 Box 13 Deductions & Schedule A
18:09 Foreign Source Income & Credits Schedule K-3 & Form 1116
23:26 Tax Exempt Interest Income
27:13 US Treasury Interest Income
28:26 Partner Basis Worksheet
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