How do I check box 22 and/or 23 on Schedule K-1?
The K1 Instructions contain the following information about the purpose of these boxes:
- Box 22. More Than One Activity
for At-Risk Purposes
When the partnership has more than one
activity for at-risk purposes, it will check this
box and attach a statement. Use the
information in the attached statement to
correctly figure your at-risk limitation. For
more information see the discussion on
At-Risk Limitations earlier.
- Box 23. More than One Activity
for Passive Activity Purposes
When the partnership has more than one
activity for passive activity purposes, it will
check this box and attach a statement. Use
the information in the attached statement to
correctly figure your passive activity
limitation. For more information see the
discussion on Passive Activity Limitations
earlier.
In Drake21, checkboxes for boxes 22 and 23 are available on the BAS screen. The required statement attachment will be produced when multiple business activity screens (BAS) are completed (Press Page Down to open a new screen.) Information provided in the statement should be used by the partner to correctly figure at-risk limitations in the individual return.
For more information about at-risk and passive activity limits, see Related Links below.
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