Why does the Schedule B screen look different in a 1065 return? How do I enter information for Schedule B-1, parts I & II?
Beginning in tax year 2018, the Schedule B has been altered with the IRS adding additional questions to the form. The Schedule B screen in the 1065 package has been enhanced so that the data entry questions are now broken into two separate tabbed screens.
In Drake18, the Schedule B tab will now contain questions 1-20, the questions that have been on the Schedule B, and the Schedule B cont. tab will contain the newly added questions 21-31 as well as the Designation of Partnership Representative.
Question 2 contains a hyperlink to the Schedule B1 screen. You can manually enter information about the partners that own 50% or more of the partnership on that screen, or by using the Schedule B-1 Section on each partner's K1 screen.
For further information, please see the 1065 instructions.
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