Drake Tax - 1065 - Schedule B and Schedule B-1

Article #: 15870

Last Updated: January 20, 2025

 

Tags: Drake TaxK1B115803

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Note  This article comprises former KB articles 15870 and 15803. It is herein referred to as KB 15870.

The Schedule B screen has two tabs on which you may need to answer questions. The selections you make also impact Drake Tax - 1065 - Analysis of Net Income or Loss.

Image of Schedule B tabs at the top of screen B

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 use the Schedule B-1 section on each partner's K1 screen instead:

Image of "Schedule B-1" section on screen K1

Important  If information is entered in the Schedule B-1 section of screen K1, and screen B1 entries are present for the same partner, the information will be duplicated in View/Print mode. Navigate to the B1 screen and remove the duplicate entries, then view the return to verify that the Schedule B-1 is produced as expected.

For further information, see the 1065 instructions and Schedule B-1 (1065).

Drake Tax - K1 or K1E Screens.