Drake Tax - 1065 - Section K - Recourse and Non-Recourse Loans
Article #: 16932
Last Updated: October 21, 2024
Section K of the K-1 is calculated by filling out Schedule L, Line 18 - All Nonrecourse Loans. This is done in data entry of the 1065 return on screen L. Data from line 18 of Schedule L flows to Part II, line K, of the appropriate Schedule K-1, based on partner ownership percentage.
Click on the F1 Field Help inside each field for more information or see Form 1065 Instructions.
If you would like to have the software allocate on something other than partner percentage, see Drake Tax - 1065 - Partner Special Allocations.