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ca-s-1son
New Member

Does Turbo Tax transfer the information on Sch. K-1 to other forms and schedules as needed?

 
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2 Replies
DDollar
Expert Alumni

Does Turbo Tax transfer the information on Sch. K-1 to other forms and schedules as needed?

Yes, for the majority of lines on a K-1, the information will transfer directly to the form or schedule in the tax return where it needs to be reported.  There are a few exceptions for some of the lesser used lines that may require manual entry in other parts of a tax return.   Those lines are identified as such in the instructions for Form K-1s.

jatssha
New Member

Does Turbo Tax transfer the information on Sch. K-1 to other forms and schedules as needed?

For 13W TT Premier alerts me that I need to enter the llc member Other Deductions elsewhere based on 13W description provided by LLC. The llc has however in its statement not detailed the 13 W and only stated it as Other Deductions. How and where should I incorporate this on The 1040 Forms/Schedules as well as on NY state non resident and CA state resident forms. Thanks.

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