Schedule K (Form 1065) - Allocation of Distributive Share Items

TaxAct® will allocate the distributive items reported on Schedule K (Form 1065) Partners’ Distributive Share Items (on page 4) to each of the partners according to their weighted percentage of ownership. Their weighted percentage is computed on a daily basis. Enter each partner's ownership percentage at the beginning of the year through the K-1 Wizard during the Q&A.