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Level 2

Question

Turbo Tax is asking for Schedule k-1 information, does it want proir years loss-income?

Forum|Forum|6 years ago
February 7, 2020
1 reply
3 views

While attempting to file taxes this year, in the "your income" section, there is a section for Schedule K-1. Does Turbo Tax want me to enter the K-1's that were issues in 2019? That does not make any sense to me, since that would have information for 2018's tax report. Should I just ignore this entry and after completing the taxes for this year, issue new Schedule K-1s?

Thanks!

TurboTax Business Windows

Level 5

If you're asking about your personal return, it wants the information from the K-1s issued in 2020 showing your information from 2019.

Level 2

Hello,

Thank you for your replying, but its actually asking in the business return, not my personal return. I have yet to issue K-1's this year.

Level 12

They are asking if the business received any K-1s in 2019 from other businesses.

For instance, if your partnership was a partner in another partnership, the partnership would receive a K-1.

You would report that in the income section.

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