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Schedule K (Form 1065) is a summary schedule of all the partners’ share of income, credits, deductions, etc. Rental activity income (loss) and portfolio income are not reported on page 1 of Form 1065 U.S. Return of Partnership Income. These amounts are combined with trade or business activity income (loss) and passed through to the partners on Schedule K. The partnership issues a Schedule K-1 (Form 1065) Partner’s Share of Income, Deductions, Credits, etc. to each partner to report their share of the partnership's Schedule K income and deductions.

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.


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