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Prepared for HopkintonThe Role of the Budget Committee December 6, 2023 K AT H E R I N E H E C K , GOVERNMENT FINANCE ADVISOR N AT C H G R E Y S , G O V E R N M E N T A F FA I R S C O U N S E LAnnual

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What is k at h e?

K-1 (Form 1065) is a tax document issued to partners in a partnership or to shareholders in an S corporation to report income, deductions, and credits.

Who is required to file k at h e?

Partnerships and S corporations are required to file K-1 forms for their partners and shareholders.

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To fill out K-1, provide the required partnership or S corporation information, income details, deductions, and the share of credits for each partner or shareholder.

What is the purpose of k at h e?

The purpose of K-1 is to provide partners and shareholders with their share of income, deductions, and credits for accurate tax reporting.

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Information on K-1 includes the partner's or shareholder's share of income, losses, deductions, and any applicable credits from the entity.

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