Form 8865 Schedule K-1 Transfer

In Binder Properties, select Add Ownership
under the International Members
tab for the foreign partnership.

Select the partners.

Enter the Ownership Percentages
, ensuring they total 100.000000.

Select Save
on the ownership.

Select Save
before closing Binder Properties
.

In Charts
under Federal
, select Tax Combination Codes
.

Open the chart for the year.

For each TRC, select +
to insert the TCC and enter the Description
.

Select Save
.

TRC	TCC	Description
11-400	900	Investment in 8865
31-145	500	8865 K-1 Dividends
31-165	500	8865 K-1 Dividend Equivalents
31-380	500	8865 K-1 Interest Income
31-420	500	8865 K-1 Rental Real Estate Income
31-420	550	8865 K-1 Other Rental Income
31-520	500	8865 K-1 Royalties
31-620	500	8865 K-1 ST Capital Gain
31-620	550	8865 K-1 LT Capital Gain
31-620	750	8865 K-1 Collectibles (28%) Gain
31-660	500	8865 K-1 Section 1231 Gain
31-900	510	8865 K-1 Ordinary Business Income
31-900	550	8865 K-1 Other Income
31-900	750	8865 K-1 Guaranteed Payments for Capital
31-900	760	8865 K-1 Guaranteed Payments for Services
41-440	500	8865 K-1 Foreign Taxes Paid
41-440	550	8865 K-1 Foreign Taxes Accrued
41-540	500	8865 K-1 Section 179 Expense
41-900	500	8865 K-1 Other Deductions
60-150	500	8865 K-1 Income (Loss)
60-225	500	8865 K-1 Foreign Taxes
60-525	500	8865 K-1 Foreign Taxes
60-540	500	8865 K-1 (Loss)
62-102	500	8865 K-1 Section 179
62-112	500	8865 K-1 Foreign Taxes
62-190	300	8865 K-1 Ordinary Business Income (Loss)
62-190	500	8865 K-1 Gain (Loss)
62-190	510	8865 K-1 Rental Income (Loss)
62-190	520	8865 K-1 Interest Income
62-190	530	8865 K-1 Dividend Income
62-190	540	8865 K-1 Royalty Income

In Charts
under Federal
, select Accounts and Adjustments
.

Open the chart of accounts assigned to the partner for the year.

In the Chart of Accounts
tab, select Add Account
to populate each Account Number
, Account Description
, TRC
, and TCC
.

Select Save
.

Account Number	Account Description	TRC	TCC
8865K11	8865 K-1 Ordinary Business Income (Loss)	31-900	510
8865K110	8865 K-1 Section 1231 Gain (Loss)	31-660	500
8865K111	8865 K-1 Other Income	31-900	550
8865K112	8865 K-1 Section 179 Expense	41-540	500
8865K113	8865 K-1 Other Deductions	41-900	500
8865K12	8865 K-1 Net Rental Real Estate Income (Loss)	31-420	500
8865K121 Accrued	8865 K-1 Foreign Taxes Accrued	41-440	550
8865K121 Paid	8865 K-1 Foreign Taxes Paid	41-440	500
8865K13	8865 K-1 Other Rental Income (Loss)	31-420	550
8865K14a	8865 K-1 Guaranteed Payments for Services	31-900	760
8865K14b	8865 K-1 Guaranteed Payments for Capital	31-900	750
8865K15	8865 K-1 Interest Income	31-380	500
8865k16A	8865 K-1 Ordinary Dividends	31-145	500
8865K16c	8865 K-1 Dividend Equivalents	31-165	500
8865K17	8865 K-1 Royalties	31-520	500
8865K18	8865 K-1 ST Capital Gain (Loss)	31-620	500
8865K19A	8865 K-1 LT Capital Gain (Loss)	31-620	550
8865K19B	8865 K-1 9b Collectibles (28%) Gain	31-620	750
TAX11-400.900	Investment in 8865s	11-400	900

Still in the chart of accounts in the Charts of Adjustments
tab, select Tax
.

Select the Chart
assigned to the partner.

Select Add Adjustment
.

Enter the Adjustment Number
and Adjustment Description
.

Under Available Accounts
, select the Account Numbers
.

Select Add
.

Under Tax Return Presentation
in tab Domestic
, select the Debit TRC
, Debit TCC
, Credit TRC
, and Credit TCC
.

In the Foreign
tab, select the Debit TRC
, Debit TCC
, Credit TRC
, and Credit TCC
.

Under Special Adjustments
, select 8865 K-1 Transfer
.

Select Save
.

Select the back arrow.

Domestic Adjustment Details
Adjustment Number	Adjustment Description	Domestic Debit TRC	Domestic Debit TCC	Domestic Credit TRC	Domestic Credit TCC
8865K11	8865 K-1 Ordinary Business Income (Loss) Adjustment	60-150	500	60-540	500
8865K110	8865 K-1 Section 1231 Gain (Loss)	60-144	500	60-544	500
8865K111	8865 K-1 Other Income (Loss)	60-150	500	60-540	500
8865K112	8865 K-1 Section 179 Expense	60-540	500	60-540	500
8865K113	8865 K-1 Other Deductions	60-540	500	60-540	500
8865K12	8865 K-1 Net Rental Real Estate Income (Loss)	60-150	500	60-540	500
8865K121A	8865 K-1 Foreign Taxes Accrued	60-225	500	60-525	500
8865K121P	8865 K-1 Foreign Taxes Paid	60-225	500	60-525	500
8865K13	8865 K-1 Other Rental Income (Loss)	60-150	500	60-540	500
8865K14a	8865 K-1 Guaranteed Payments to Partners for Services	60-150	500	60-150	500
8865K14b	8865 K-1 Guaranteed Payments for Capital	60-150	500	60-150	500
8865K15	8865 K-1 Interest Income	60-150	500	60-150	500
8865K16A	8865 K-1 Ordinary Dividend Income	60-150	500	60-150	500
8865K16C	8865 K-1 Dividend Equivalents	60-150	500	60-150	500
8865K17	8865 K-1 Royalties	60-150	500	60-150	500
8865K18	8875 K-1 ST Capital Gain (Loss)	60-144	500	60-544	500
8865K19A	8865 K-1 LT Capital Gain (Loss)	60-144	500	60-544	500
8865K19B	8865 K-1 Gain on Collectibles (28%)	60-144	500	60-544	500

Foreign Adjustment Details
Adjustment Number	Adjustment Description	Foreign Debit TRC	Foreign Debit TCC	Foreign Credit TRC	Foreign Credit TCC
8865K11	8865 K-1 Ordinary Business Income (Loss) Adjustment	62-190	300	62-190	300
8865K110	8865 K-1 Section 1231 Gain (Loss)	62-190	500	62-190	500
8865K111	8865 K-1 Other Income (Loss)	62-190	300	62-190	300
8865K112	8865 K-1 Section 179 Expense	62-102	500	62-102	500
8865K113	8865 K-1 Other Deductions	62-190	300	62-190	300
8865K12	8865 K-1 Net Rental Real Estate Income (Loss)	62-190	510	62-190	510
8865K121A	8865 K-1 Foreign Taxes Accrued	62-112	500	62-112	500
8865K121P	8865 K-1 Foreign Taxes Paid	62-112	500	62-112	500
8865K13	8865 K-1 Other Rental Income (Loss)	62-190	510	62-190	510
8865K14a	8865 K-1 Guaranteed Payments to Partners for Services	62-190	300	62-190	300
8865K14b	8865 K-1 Guaranteed Payments for Capital	62-190	300	62-190	300
8865K15	8865 K-1 Interest Income	62-190	520	62-190	520
8865K16A	8865 K-1 Ordinary Dividend Income	62-190	530	62-190	530
8865K16C	8865 K-1 Dividend Equivalents	62-190	530	62-190	530
8865K17	8865 K-1 Royalties	62-190	540	62-190	540
8865K18	8875 K-1 ST Capital Gain (Loss)	62-190	500	62-190	500
8865K19A	8865 K-1 LT Capital Gain (Loss)	62-190	500	62-190	500
8865K19B	8865 K-1 Gain on Collectibles (28%)	62-100	110	62-100	110

Account Adjustment Details
Adjustment Number	Adjustment Description	1st Account	2nd Account
8865K11	8865 K-1 Ordinary Business Income (Loss) Adjustment	TAX11-400.900	8865K11
8865K110	8865 K-1 Section 1231 Gain (Loss)	TAX11-400.900	8865K110
8865K111	8865 K-1 Other Income (Loss)	TAX11-400.900	8865K111
8865K112	8865 K-1 Section 179 Expense	TAX11-400.900	8865K112
8865K113	8865 K-1 Other Deductions	TAX11-400.900	8865K113
8865K12	8865 K-1 Net Rental Real Estate Income (Loss)	TAX11-400.900	8865K12
8865K121A	8865 K-1 Foreign Taxes Accrued	TAX11-400.900	8865K121 Accrued
8865K121P	8865 K-1 Foreign Taxes Paid	TAX11-400.900	8865K121Paid
8865K13	8865 K-1 Other Rental Income (Loss)	TAX11-400.900	8865K13
8865K14a	8865 K-1 Guaranteed Payments to Partners for Services	TAX11-400.900	8865K14A
8865K14b	8865 K-1 Guaranteed Payments for Capital	TAX11-400.900	8865K14B
8865K15	8865 K-1 Interest Income	TAX11-400.900	8865K15
8865K16A	8865 K-1 Ordinary Dividend Income	TAX11-400.900	8865K16A
8865K16C	8865 K-1 Dividend Equivalents	TAX11-400.900	8865K16C
8865K17	8865 K-1 Royalties	TAX11-400.900	8865K17
8865K18	8875 K-1 ST Capital Gain (Loss)	TAX11-400.900	8865K18
8865K19A	8865 K-1 LT Capital Gain (Loss)	TAX11-400.900	8865K19A
8865K19B	8865 K-1 Gain on Collectibles (28%)	TAX11-400.901	8865K19B

In Charts
under International
, select 8865 K-1 Transfer Mapping
.

Select Add Chart
.

Select the Year
.

Enter the Chart Name
.

Select the Federal Chart of Accounts
assigned to the partner.

Select the Tax Adjustment Chart
assigned to the partner.

Select Save
.

Still in 8865 K-1 Transfer Mapping
under the year, open the chart.

Next to Income Statement Accounts
, select the column header 2
to display the accounts in each adjustment.

Under Income Statement Accounts
under the tax adjustment, select the federal account.

Under Unassigned 8865 K-1 Tax App Fields
, select the line number matching the federal account number.

Select Map
.

Map the remaining Unassigned 8865 K-1 Tax App Fields
until only 6b Qualified Dividends
is unmapped.

Select Save
.

Select the back arrow.

In Charts
under International
, select Summary Accounts
.

Under the year, open the chart assigned to the partners.

Select Add Account
.

Enter the Account Number
and Description
.

Select the Account Type
.

Select Save
.

Select the back arrow.

Account Number	Description	Account Type
31-145.500	8865 K-1 Ordinary Dividend Income	0990
31-165.500	8865 K-1 Dividend Equivalents	0995
31-380.500	8865 K-1 Interest Income	1105
31-420.500	8865 K-1 Rental Real Estate Income (Loss)	1161
31-420.550	8865 K-1 Other Rental Income (Loss)	1151
31-520.500	8865 K-1 Royalty Income	1210
31-620.500	8865 K-1 ST Capital Gain (Loss)	1303
31-620.550	8865 K-1 LT Capital Gain (Loss)	1353
31-620.750	8865 K-1 Collectibles (28%) Gain	1421
31-660.500	8865 K-1 Section 1231 Gain (Loss)	1436
31-900.510	8865 K-1 Ordinary Business Income	1805
31-900.550	8865 K-1 Other Income	2790
31-900.750	8865 K-1 Guaranteed Payments for Capital	1847
31-900.760	8865 K-1 Guaranteed Payments for Services	1846
41-900.500	8865 K-1 Other Deductions	5899
44-910.500	8865 K-1 Foreign Taxes	4853

In Charts
under International
, select Chart of Accounts Cross Reference
.

Select the Year
, Federal COA
, and International COA
assigned to the partner.

Select Income Statement
.

Under Federal COA
, select the federal Account Number
.

Under International Account
(Federal TRC
/ TCC
/ Account
), select the same international account.

Select Map
.

Map the remaining federal Income Statement
accounts.

Select Save
.

For the partners in Binder Properties
in the Charts
tab under Charts
, select the Chart of 8865 K-1 Transfer Mapping
.

Select Save
, before changing tabs.

For the partners in Binder Properties
in the Foreign Partnership
tab, select Add Foreign Partnership
.

Select the work area.

Select OK
.

Select the 8865s.

Select Save
.

On the row for each 8865 in the column Form 1118 Schedule C, D & E %
, enter the ownership ratio between 0 and 1.

Select Save
, before closing Binder Properties
.

For each partner in Entity Properties
in the General Info
tab under Entity Information
line Return Name
, copy the name.

In the 8865 in

Organizer
Foreign Information
Foreign Partnership
[8865 name]
Partner Information (Sch K-1/K-3)
Partner Info (Sch K-1 and Sch K-3)

, select Add new Partner Name
.

Paste the copied name in Add new Partner Name
for Partner name
.

For Default partner ownership
, enter the ratio between 0 and 1.

For Partner ID type (Mandatory)
, select EIN
or Foreign partner not required to have an EIN or ITIN
.

For Partner ID
, enter the IRS issued EIN in #########
format.

For each partner in Entity Properties
under Entity Information
for Entity Number
, copy the code.

In the 8865 in Organizer under Foreign Information under Foreign Partnership under [Name of 8865] in International Return Information in tab International Options under Transfer of Partner Information to TAS Adjustments in column Company Number for the partner, paste the copied Entity Number.

In the 8865 in Organizer
in Compute
, select Full Recompute
to apply changes to the Schedule K-1s.

In the partners under TAS
in Compute
, select Transfer 8865 K-1
.

Select Save Settings
.

Select Compute
.

In the partners under TAS
in 8865 K-1 Workpaper
in the column for the 8865, review the transferred amounts for each account in each adjustment.

In the column Total Partnership Transfer
, review the sum of the transferred amounts for all 8865 for each account in each adjustment.

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Form 8865 Schedule K-1 Transfer

This article applies to: