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Got questions? 2 quick resources for answers on cashflow analysis of tax returns

Let’s assume your question is on a K-1.
There is a K-1 for a 1065 (Partnerhsips and some LLCs), a 1120S (S Corporations), as well as trusts and estates.

Use the site-wide search
The quickest way to find what you need when you have a tax return analysis question is to do a site-wide search of www.LindaKeithCPA.com.

Go ahead, at the top of the page, click on the magnifying glass. Type in k-1. You’ll find 4 pages of entries and one of them will be just what you need to know.

The list will include

  • blog posts
  • articles
  • answers to ‘Ask Linda’ questions

Ask Linda
And if you don’t find what you need, click on ‘Contact us’ and ask me yourself!

IRS.gov
If you decide to use www.irs.gov follow these steps.

  1. Use their search box for the type of income or expense you are questioning
  2. From the resulting list, click on the pdf for the publication that covers it.
  3. When you have the pdf opened, go to the very end and find the index.
  4. Find the item in the index and go directly to that page

Within less than a minute you have a pretty good chance of being on the page that gives you a better understanding of that item, if not the actual answer that you need.

Consider printing just that page for documentation to include in the file. If you did not already know the answer, perhaps the person reviewing the file doesn’t either.

About the Author
Linda Keith CPA is an expert in credit risk readiness and credit analysis. She trains banks and credit unions throughout the United States, both in-house and in open-enrollment sessions, on Tax Return and Financial Statement Analysis. She is in the trenches with lenders, analysts and underwriters helping them say "yes" to good loans. Creator of the Tax Return Analysis Virtual Classroom at www.LendersOnlineTraining.com, she speaks at banking associations on risk management, lending and director finance topics.