ProSeries users, do we have a "K-1" summary"

[AZ-Tax]

Does PS have a K-1 summary similar to the W2/W2G or 1099R summary? If so how do I locate it? If not we need to request a "K-1 Summary" enhancement.

Why, assuming your client has several K-1's for rentals and they all flow to ln 17 pg 1 form 1040. The only way to check to see if all K-1's flowed to ln 17 is to open all the K-1's and manually add them up unless we had a K-1 summary which would list each K-1 and the amts associated with each K-1. My client just recieved a letter from the IRS and my client had 3 K-1's but I guess I did not add up each K-1 amt that was suppose to flow to ln 17. The results, one of my client's K-1 only partially imported into my client's form 1040 w/o the "net rental real estate income (loss)" thus shorting ln 17 about $700.

[DMICPA]

ProSeries K-1 Forms

I don't think the program has a summary of K-1s.
Also, if you have a regular business and a passive business which could go on the same K-1, I have had to have a different K-1 for each type of activity. So if you had a regular business that also has passive activities, I have to do one K-1 for the regular part of the business and another K-1 for the passive activity.

Weak.

[David1980]

I've used 3 different softwares where you had to put the passive & non-passive amounts on different K-1's. Seems somewhat standard in the tax software industry.

Don't they ultimately flow through to Schedule E page 2 and then from there to 1040? Does it list all the K-1's on Sch E page 2?

[taxea]

any K-1 info that transfers from the K-1 entry should indicate from K-1 and k-1 name on the form it transfers to

[DMICPA]

K-1 Quandry

i thought Lacert allowed you to put both on the same K-1 instead of using two K-1s.

[taxea]

The program may allow you to combine K-1's but I am more concerned about the IRS comparison...if you combine K-1's the IRS may send a letter saying the TP failed to report one of them.