Activity-based reporting worksheets

To satisfy the requirements for reporting passive activity for net income (loss) and credits, UltraTax CS/1065 includes the necessary worksheets. You'll need to state all the required items separately.
  • Schedule K Activity Worksheet
  • Section 199A Information Worksheet
  • Section 179 Sales Worksheet
  • Section 179 Like-Kind Exchanges Worksheet
  • Partner's Schedule K-1 Activity Worksheet
  • Partner's Section 199A Information Worksheet
  • Partner's Section 199 Sales Worksheet
  • Partner's Section 199 Like-Kind Exchanges Worksheet
The instructions on page 1 of Form 1065 explain that these worksheets are required: "If the partnership carries on more than one activity, provide an attached statement for each activity conducted through the partnership that identifies the type of activity conducted … On the attached statement for each activity, provide a statement, using the same box numbers as shown on Schedule K-1, detailing the net income (loss), credits, and all items required to be separately stated…".
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