Current Federal Tax Developments

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Getting to Know the K-1 – Partnership Allocations under §§704(b) and 704(c)

Slides

Form 1065 Frequently Asked Questions - Negative Tax Basis Capital Account Reporting Requirements

2019 Form 1065 - Schedule K-1 (Final)

Current Federal Tax Developments Coverage

  • February 15, 2019 - IRS Adds Requirement for Tax Basis Partner Capital Information Reporting to Form 1065 Instructions

  • March 7, 2019 - Partnerships Required to Add Tax Basis Capital Information to Partner K-1s Given Until March 15, 2020 to Provide the Information to the IRS

  • November 4, 2019 - Partnership Draft 2019 Instructions Add Same §199A Statements as Were Added for S Corporations (Tax Basis Only Reporting on Draft K-1)

  • December 10, 2019 - IRS Delays Requirement to Report Tax Basis Capital Accounts on Partnership K-1s

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