K1 Input on ATX

[Yardley CPA]

Client received K-1 for his share of a Custodian IR Rollover account.  I don't have all that much experience with K1 entry.  I have selected the K-1 form on the program and have attempted to input as much information as I can.  For some reason, I can not find the section where I enter the address and EIN of the Partnership.  Items to note:

• The Partner's SSN on the form  (1729) is not my clients or his spouse.
• After entering all the information, it does not impact the return in any way.  The calculated refund has remained the same as before the K-1 was added to the return.
• I assume this information should impact the the return but not sure why it is not.

Any suggestions on what I may be doing incorrectly when inputting the information on the K-1?

 

[Gail in Virginia]

If this is in an IRA account, and has a loss, do you even need to enter it?

[Lion EA]

Send it to whoever files the Plan's tax return.

[Slippery Pencil]

The 1729 number is the TIN of the IRA.  As the other posts state, this doesn't go on your client's return.

Ignoring that, if it was your client's and not his IRA's, being a limited partner, this would be a passive loss and only deductible against passive income.