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shall we just have a conversation about schedule k1 instructions how to fill out a k1 and valid i think we should so i want you to stick around till the end of todays [Music] conversation [Music] so [Music] welcome back folks to another section of the awesome sweetie kiwi show i hope you are doing fantastic today i hope you are doing great im doing fantastic im doing superb if you are doing as great as i am go grab a cup of coffee or tea or vodka and lets roll todays conversation will revolve around schedule k1 what is it what is schedule k1 lets just talk about it first schedule k1 is a schedule of irs form 1065 or 1120s we also have schedule k1 of form 1041 but this is not really in were not talking about that here but schedule k1 is a schedule of iris form 1065 or 1120 that members of a business partnership our or and as corporation used to report their share of a partnerships profits losses deductions and credits to the irs so basically partnerships are so-called pass-thro