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Advanced
Partnerships, foreign tax and more.
The forms most software skips. Every line routed, every carryover kept.
1
You upload a K-1
From a fund, a partnership or a trading fund. Pfifi reads every box, including the footnotes.
SCHEDULE K-1 (FORM 1065)2026
1(2,140)
53,880
9a12,450
13H1,960
16412
20ZSee stmt
6 boxes and 1 statement read
2
Every box goes where it belongs
Business income, interest, gains, investment interest and foreign tax, each to the right form.
Where your K-1 goesExample fund
| Box | Item | Amount | Goes to |
|---|---|---|---|
| 1 | Ordinary business income | −$2,140 | Schedule E, nonpassive |
| 5 | Interest | $3,880 | Schedule B |
| 9a | Long-term gain | $12,450 | Schedule D |
| 13H | Investment interest | $1,960 | Form 4952 |
| 16 | Foreign tax paid | $412 | Form 1116 |
3
Carried into next year
Basis, at-risk amounts, foreign tax credit and loss carryovers roll forward, so next year starts right.
- 2024$78,900basis
- 2025$81,200basis
- 2026$84,310basis
Distributions stayed under basis, so there’s no extra gain this year.
Also included
- Foreign tax credit. Form 1116 by category, with carryovers and the AMT version.
- Trader funds. Trading-business income as nonpassive, investment interest on Form 4952.
- More than one state. Part-year and nonresident returns.
- Amended returns. See exactly what a corrected K-1 changes.
- Your CPA, invited free. Notes and overrides on any figure, every change marked.
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