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Frequently Asked Questions (FAQ)

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Sources:

Internal Revenue Service. (2022, March 1). About Form 1040, U.S. Individual Income Tax Return. Retrieved from https://www.irs.gov/forms-pubs/about-form-1040

Internal Revenue Service. (2021, July 12). About Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc. Retrieved from https://www.irs.gov/forms-pubs/about-schedule-k-1-form-1065

Internal Revenue Service. (2022, January 10). Partner’s Instructions for Schedule K-1 (Form 1065). Retrieved from https://www.irs.gov/pub/irs-pdf/i1065sk1.pdf

Internal Revenue Service. (2022, March 31). Schedule K-1 (Form 1041). Retrieved from https://www.irs.gov/pub/irs-pdf/f1041sk1.pdf

Internal Revenue Service. (2021, July 12). Schedule K-1 (Form 1065). Retrieved from https://www.irs.gov/pub/irs-pdf/f1065sk1.pdf
Internal Revenue Service. (2022, March 2). Schedule K-1 (Form 1120-S). Retrieved from https://www.irs.gov/pub/irs-pdf/f1120ssk.pdf

About the Authors

Thomas J. Brock

Written by: Thomas J. Brock

Chartered Financial Analyst and a Certified Public Accountant

Thomas is a well-rounded financial professional, with over 20 years of experience in investments, corporate finance, and accounting. He currently oversees the investment operation for a $4 billion super-regional insurance carrier, maintaining a dynamic investment policy designed to preserve capital, enhance...

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Kal Salem

Reviewed by: Kal Salem

CPA, PMP and Finance Consultant

A CPA and finance professional working with small businesses to educate owners and grow alongside their businesses. He holds a Masters in Accounting and a BS in Supply Chain Management. Owner at Salem CPA Services LLC.

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Chip Stapleton

Fact checked by: Chip Stapleton

Finance Manager

Chip Stapleton is a Series 7 and Series 66 license holder, CFA Level 1 exam holder, and currently holds a Life, Accident, and Health License in Indiana. He has 8 years of experience in finance, from financial planning and wealth management to corporate finance and FP&A.

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