Schedule K and Schedule K-1

IRS IRC § 42 Audit Technique Guide — Part I (Introduction and Pre-Contact Analysis) · 2026 edition · updated 2026-07-29 · United States

For a partnership, Schedule K and Schedules K-1 should be inspected to identify the type of financing involved, including nonrecourse financing. This information is good to know up front as the state agency records and taxpayer records will fully clarify the types and extent of financing used to develop and operate the IRC §42 project.

A comparison of the Schedules K-1 from year to year will identify changes in ownership percentages.

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▸Contents — IRS IRC § 42 Audit Technique Guide — Part I (Introduction and Pre-Contact Analysis)

IRS IRC § 42 Audit Technique Guide — Part I (Introduction and Pre-Contact Analysis)

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