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Subject:  Re: K-1 question Date:  3/15/2018  4:21 AM
Author:  ptheland Number:  127267 of 132878

probably harder to understand a K-1 then to climb K2.

This overweight, non-athletic accountant finds K-1s much easier than K2. I've never risked death dealing with a K-1. ;-)

Anyways, if someone happens to know off the top of their head... in Part III-Partner's Share of Current Year Income, Deductions, Credits, and Other Items, section 20, I have code Z1 Gross Reciepts for UBTI, and code Z2 Gross Deduction for UBTI.

You can safely ignore that particular code. It is for tax-exempt organizations who may have invested in the partnership. They may need to pay some tax if they have too much income from these kinds of partnerships.

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