Schedule K Items

Schedule K Items

Schedule K Items means:
the items of income, expense, and credit that are stated separately on Schedule K of partnership and S corporation tax returns. These items, such as passive income, dividends, and long-term gains and losses, have special tax treatment at the shareholder level, so they are not included in partnership or S corporation income. Schedule K items flow through the business entity, and each partner (or S corporation shareholder) takes into account his or her pro rata share. Former IRC (check if this IRC provision is current here) §§702(a) and (b).

See Dividend in the American Legal Encyclopedia and Dividend in the World Legal Encyclopedia.


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