How do I add a K-1 in Kentucky?

1. As you go through the interview for KY, you will come to a screen, Kentucky Schedules K-1 (Additions). If the income amount listed on the KY K-1 is higher, click Yes. If the income amount listed on the KY K-1 is lower or the same, click No. 2. Enter any additions. 3. You will then come to Kentucky Schedules K-1 (Subtractions)

How do I calculate the net difference between k1 and K1?

To determine the net difference between the federal Schedule K-1 amounts and the Kentucky Schedule K-1 amounts, complete Section E, Lines 1, 2, and 3. This will adjust the items of income, (loss), and deductions used to compute your federal adjusted gross income to the Kentucky amounts shown on Kentucky Schedule K-1.

Does Kentucky schedule K1 show dividend distributions?

Kentucky Schedule K-1 does not show the amount of actual dividend distributions the S corporation paid to you. The S corporation must report such amounts to you on Form 1099-DIV. You report actual dividend distributions on federal Schedule B (Form 1040).