Partnerships must use Schedule K-1 tax forms to distinguish the business’s income from their owners’ personal income. Completing and filing these forms correctly is crucial to avoid IRS penalties, ...

If you already own an S corporation (S corp) or plan to start one, you’ll need to familiarize yourself with Schedule K-1 (Form 1120S). Schedule K-1 is a tax form used by pass-through organizations, ...

It's important to understand the ins and outs of Schedule K-1s for proper tax filing purposes. Whether you're a seasoned investor or just getting started in real estate, it's essential to understand ...

Troy Segal is an editor and writer. She has 20+ years of experience covering personal finance, wealth management, and business news. Lea Uradu, J.D., is a Maryland state registered tax preparer, state ...

Inheriting property or other assets typically involves filing the appropriate tax forms with the IRS. Schedule K-1 (Form 1041) is used to report a beneficiary’s share of an estate or trust, including ...