Form K-1 is a tax document used to report the incomes, deductions, and credits of a partnership's partners, estate's beneficiaries, and S corporation's shareholders. It helps these individuals report their share of the business's income on their personal tax returns.
Schedule K-1 is a tax document used to report income, deductions, and credits from partnerships, S corporations, estates, and trusts to individuals, partners, or shareholders. It also contains information on these entities' distributive share of items like income, losses, and dividends.
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