Applying the K1

K-1s are where many tax returns go wrong; not because the forms are complex, but because the flow is misunderstood.

This training walks tax professionals through how to correctly apply K-1s from Partnerships (Form 1065) and S Corporations (Form 1120S) to the individual return. We’ll break down each major section of the K-1, explain what actually carries over to the 1040, and how those numbers interact with basis, passive activity rules, and other limitations.

You’ll see how business income, losses, distributions, and credits flow from the entity return to the taxpayer, including common scenarios that trigger IRS scrutiny. We’ll also cover frequent mistakes, software pitfalls, and how to explain K-1 results clearly to clients.

By the end of this session, you’ll understand not just where the numbers go, but why they go there. Allowing you to handle K-1s confidently, accurately, and strategically.