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How do I know how many K-1s need to be prepared?
How do I know how many K-1s need to be prepared?

Easy... # of owners = # of K-1s

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Written by Success Team
Updated over a week ago

Each partner or S corp shareholder will require a K-1 from the partnership/S-corp. All the information included within the K-1 is to be reported by each respective owner in order to report the income on their personal tax return. Flow-through entities such as partnerships and S-corps do not pay taxes. Rather, the partners/shareholders within the entities are responsible for their share of the liability.

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