Use this calculator to figure out Partnership Net Income or Loss. Keep in mind that Partnership activities also include separately stated items that are listed separately in an Individual’s 1040.
The partnership income tax calculator is provided below. K-1 income tax calculator is free and easy to use. Click to enter data and calculate the tax.
Separately stated items include charity contributions (itemizing), long-term capital gain (lower tax rate), Short-term capital loss (depending on filing status, the deduction can be $1,500-$3,000), tax-exempt income, etc.
Tax Saving Strategy