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What is Schedule K-1 and why does it matter?

Schedule K-1 is the document each partner or member receives after Form 1065 is filed. It shows their individual share of the partnership's income, deductions, and credits for the year. Every partner needs their K-1 to file their own personal tax return accurately. Inkle prepares K-1s for all partners as part of the Form 1065 filing.

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Check your EIN confirmation letter (CP 575) first. If that is gone, look at a previously filed tax return, a business bank account application, or any 1099 you have issued. Your bank or your payroll provider will also have it on file.

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