turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

SaraHagan
Returning Member

743b reporting

How do I get Turbotax Business to make entries in Schedule k-1 lines 13 and 20?

 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
PatriciaV
Expert Alumni

743b reporting

Yes, you can enter Box 13 and Box 20 for Schedule K-1 using Forms Mode.

  1. Click the Forms icon in the TurboTax header.
  2. Look for "Form 1065 p5-6" in the left column. Click the form name to open it in the large window. 
  3. Scroll down to Line 13.
  4. Find the code you need to use or choose a code from the drop-down under Type beneath Line O.
  5. Enter the amount in the related box.
  6. Scroll down to Line 20.
  7. Find the code you need to use or choose a code from the drop-down under "I" beneath Line E.
  8. Enter the amount to be allocated.
  9. Now open a Schedule K-1 [name of partner].
  10. Scroll down below Line 23 to the Supplemental Information Smart Worksheet. Enter "Line 20 (plus code letter)" and a description. Then enter the amount allocated to this partner. (TurboTax does not calculate this for you.)
  11. Repeat Step 5 & 6 for each partner. Leave all forms open until you review the results.
  12. To see Schedule K-1 and the attachment, print preview the form (in the menu bar, click File >> Print (Schedule K-1 will appear) >> Print Preview). Additional information will appear on a separate sheet after Schedule K-1, with the entry you made.
  13. When you're finished, click "Step-by-Step" in the header to return to the interview.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question