Section L of the Schedule K-1 (Form 1065) Partner’s Share of Income, Deductions, Credits, etc. will not print if, based on your entries, Schedules L, M-1, and M-2 are not required. Generally, this means Yes is checked on Schedule B, Line 6.
To have these schedules (and Schedule K-1, Section L) printed with the return:
- From within your TaxAct return (Online or Desktop), click Basic Info to expand, then click Other Info. On smaller devices, click in the upper left-hand corner, then click Basic Info. (Desktop users, located directly below the tabs)
- Continue with the interview process to enter all of the appropriate information.
- On the screen titled Schedule B - Schedules L, M-1 and M-2 Requirements, review the four conditions, then select either Yes or No, then click Continue.
- If "Yes" was selected, check Print Schedules L, M-1, and M-2, then click Continue; or if "No" was selected, then continue with the interview process to enter all of the appropriate information - Schedules L, M-1, and M-2 (and Schedule K-1, Section L) will then print with the return.
Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.