Contact UsWhy does my Partnership Schedule K-1 say to not use this K-1 but see the schedule attached?
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Tax Professional Answers
Brett Thompson, JD, CPA
This is generally seen with oil and gas publicly held partnerships. Since depletion has to be computed on a well by well basis, the partnership is referring the partner to the attached, which is separately computed by well, from the overall K-1 numbers which are merely summary numbers and will yield a wrong result if used.
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307 weeks ago