Originally Posted by enstorms
Received this form from an investment in real estate and in box 20 it has *V as code and "STMT" in the amount field. In Instructions, it lists 6 items with amounts. Do I need to place all of these amounts into the Form Sched. K-1?
The partnership will report any information you need to figure unrelated business taxable income for a partner that is a tax-exempt organization. there's no other place really for them to let you know that some of the income is from Government obligations, which is information you need for your state tax return.I ASSUME it is a sch k-1 of 1065 , not EVERYTHING from the K1 will flow to the tax return. Box 20 code V not applicable to the Federal 1040 unless you have tax exempt status