Understanding Schedule K-1 tax formsSchedule K-1 forms apply to a variety of business types:
- Limited Liability Companies (LLCs)
- S Corporations
- Trusts and estates
- Schedule K-1 is a form that applies to business partnerships.
- K-1s matter because they specify each stakeholder’s personal tax liability.
- Businesses issue K-1 to their investors and need to keep track of their individual stakes.