Support CenterCalculating basis for 1065-Partnership/1120S-S Corporation Sch K-1 in SureFire
🔍 Calculating basis for 1065-Partnership/1120S-S Corporation Sch K-1 in SureFire
To calculate shareholder/partner basis
⚠️ Before You Begin
You will need access to the K-1 attachment in SureFire.
📊 Step-by-Step Guide
Step 1: Open the K-1 Attachment
Use this when you need to find the worksheet used to calculate basis.
In SureFire, go to the K-1 Attachment (K-1 ATT 3, available in both packages).
Step 2: Locate the basis worksheet
Use this when you need to find the correct line for your form type.
On page 3, under line20e (1065) or under line 17d (1120S) of the form, you will see a worksheet used to calculate the basis.
Step 3: Answer the worksheet question and complete remaining lines
Use this when you need to trigger the basis calculation.
Answer the Compute partner's interest? (1065) or Compute shareholder's basis? (1120S) question, and then complete any lines on the worksheet that are not calculated.
Step 4: Review the computed basis
Use this when you want to confirm the worksheet has calculated the basis.
The worksheet will now compute the basis.
📞 Still Need Help?
If you are having trouble, contact our support team:
Phone: 1-800-516-9442
Tags: federal,form