Schedule K-1 for 1065 - Drake Software

Drake Software User’s ManualMaking Changes on the FlySuppressing/Forcing DocumentsTo suppress or force the printing of certain documents, go to the PRNT screen andselect the desired options. Many “on the fly” changes override options that are set upglobally in Setup.1065 Items The following Form 1065 items can be forced or suppressed from the PRNT screen.• Force Schedules L, M-1, M-2 & K-1 Section L — Schedules L, M-1, M-2, andK-1 Section L are not printed unless required. To have these schedules printedwith the return, select Force Schedules L, M-1, M-2 & K-1 Section L.• Print Form 8893, Election of Partnership Level Tax Treatment — Select thisbox to generate Form 8893 with the return. (There is no equivalent 8893 screen,but the form is produced. All information for the form is available from other dataentry screens.)• Print Form 4562 — Form 4562, Depreciation and Amortization is not generatedunless applicable. Select this box to force the Form 4562 to be printed. (To forceForm 4562 for all returns, go to Setup > Options > Form & Schedule Options,and clear the check box labeled Print Form 4562 only when required.)• Print next-year depreciation listing— Select this box to print the next year’sdepreciation schedule if the option is not already selected in Setup > Options >Form & Schedule Options.• Print inactive return — By default, the program does not generate a return for apartnership that is inactive. Select this option to override the default for an inactivereturn.• PIN — To have the preparer’s signature appear on the printed copy of return,enter the preparer’s PIN here.• Items to Suppress — Select the boxes corresponding to any worksheets, forms,or functions to be suppressed in the return:– ATT_PTL (Taxes and Licenses Attachment) or the ATT_PSW reference onpage 1– Estimated Tax Payment Summary– Printing of WK_M2, Partners’ Capital Reconciliation WorksheetK-1 Items Described below are Schedule K-1 items that can be forced or suppressed from thePRNT screen:• Select to print:– The partner’s adjusted basis worksheet– Page 2 of Schedule K-1 (codes)• Select to Suppress:– Schedule K-1, K-1 letter, K-1_ATT, or WK_PBAS– Schedule K/K-1 Comparison Worksheet for the Capital Account Reconciliation– K1_179 for each partner– Marking of “Amended K-1” box on printed Schedule K-1Tax Year 2011 37