U.S. · Tax forms
K-1 box 20 code V.
Unrelated business taxable income (UBTI) information for tax-exempt partners.
Box 20, code V gives a tax-exempt partner the information needed to figure unrelated business taxable income (UBTI) under section 512(a)(1), without the modifications in section 512(b), paragraphs (8) through (15). If code V has an amount, the partnership also reports an IRA partner’s unique EIN in box 20, code AR. The partner then uses the Instructions for Form 990-T and Publication 598.
Look up a UBTI item
Result
UBTI items on the K-1
| Item | Meaning | Where it goes (per the IRS instructions) |
|---|---|---|
| 20-V | Box 20, code V: Unrelated business taxable income | Information needed to figure UBTI under section 512(a)(1), excluding the section 512(b)(8) through (15) modifications, for a partner that is a tax-exempt organization |
| 20-AR | Box 20, code AR: IRA disclosure | If code V has an amount, the partnership also reports an IRA partner’s unique EIN here. See the Instructions for Form 990-T and Pub. 598 |
Who code V is for
The instructions describe code V as information for a partner that is a tax-exempt organization. A partner is required to notify the partnership of its tax-exempt status, which is how the partnership knows to report code V. If you are not a tax-exempt partner, the instructions give you nothing to report from this code.
What you do with it
The code V statement is the starting data. The tax-exempt partner then follows the Instructions for Form 990-T, Exempt Organization Business Income Tax Return, and Publication 598, Tax on Unrelated Business Income of Exempt Organizations, to figure UBTI. The section 512(b)(8) through (15) modifications are excluded from the figure the partnership reports.
Worked example
A charitable foundation holds a partnership interest and receives a K-1 with a code V statement. It checks that it told the partnership of its tax-exempt status, then uses the statement’s figures with the Instructions for Form 990-T. If an IRA holds the interest, the partnership reports the IRA’s unique EIN in code AR.
More K-1 (Form 1065) pages
Other pages in this set: K-1 (1065) Box 1, K-1 (1065) Box 17, K-1 (1065) Box 18, K-1 (1065) Box 20 Codes A and B, K-1 (1065) Box 20 Code N, K-1 (1065) Box 20 Code W, K-1 (1065) Box 20 Code AH, K-1 (1065) Box 20 Code Y, K-1 (1065) Box 20 Code AA, K-1 (1065) Box 20 Code AB. The 1099-R box 7 lookup and W-2 box 12 lookup cover the same kind of question for those forms.
Sources
- Instructions for Schedule K-1 (Form 1065) (2025): Box 20, Other Information, codes V and AR. Read November 2, 2026.
IRS page last reviewed April 30, 2026. Tax year 2025 edition. Line numbers are those printed in the 2025 instructions and can change. Names in worked examples are made up.
Frequently asked questions
What is box 20 code V on a Schedule K-1 (Form 1065)?
Information a tax-exempt partner needs to figure unrelated business taxable income under section 512(a)(1).
Do I have to report code V as an individual?
The instructions address code V to partners that are tax-exempt organizations. They give no individual line for it.
What is box 20 code AR?
The IRA disclosure. When the partnership reports an amount in code V, it also reports an IRA partner’s unique EIN in code AR.
Where do tax-exempt partners report UBTI?
The instructions point to the Instructions for Form 990-T and Publication 598, Tax on Unrelated Business Income of Exempt Organizations.
Does the partnership know I am tax-exempt?
Only if you told it. The instructions say a partner is required to notify the partnership of its tax-exempt status.
Not tax advice
This page summarizes IRS instructions, mostly written for the people who prepare the form, and is not tax, legal or financial advice. The payer, a CPA or an enrolled agent can confirm what a box or code means for your return. Everything runs in your browser; nothing you enter is sent anywhere.