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For K1 partnership box 1 and box 14 code A shows same amount and Deluxe is asking for both and resulting in double taxing for the same income. Why?

the only answer i have TT is software from hell. there is no way to enter required information from K-1 without getting double taxation. they must do it on purpose

For K1 partnership box 1 and box 14 code A shows same amount and Deluxe is asking for both and resulting in double taxing for the same income. Why?

@confused123 @Fischmic1 

 

You must be new to a partnership K-1 ... so LOOK at the actual form 1040 to see what is happening... you are NOT being double taxed  ... when you entered the box 1 income the FEDERAL income tax was computed ... then when you entered 14a the SE taxes were computed.   On 100K of income 38% would be about right if you add the fed & se taxes together. 

 

 

You can peek at only  the Federal form 1040 and the summary of the state info by going here:

1) lower- Left side of the screen...click to the left side of the "Tax Tools" text selection.
2)  then select "Tools"
3) then select "View Tax Summary" from the pop-up
4) then back to the left-side and "Preview 1040"

Then hit the "Back" on the left side to get back to your tax entries.

             

             

To view your entire return using the online editions (including the state) before you file, you will need to pay for your online account.

 

To pay the TurboTax online account fees by credit card, without completing the 2019 return at this time, click on Tax Tools >>> Tools  and then Print Center.  Then click on Print, save or preview this year's return.  On the next page, to pay by credit card, click Continue.  On the next screen it will ask if you want Audit Defense, if you do not want this option just click on the Continue button.  The next screen will ask for all your credit card information so you can pay for the account.

           

For K1 partnership box 1 and box 14 code A shows same amount and Deluxe is asking for both and resulting in double taxing for the same income. Why?

if you are so experienced in K-1 and TT. can you take us thru entire process of entering info. i imported all sales from my broker.  got k-1 in a mail. what do i do with it? held partnership for entire 2019, did not hold it in 2018, sold 2019

For K1 partnership box 1 and box 14 code A shows same amount and Deluxe is asking for both and resulting in double taxing for the same income. Why?

Sales of a partnership is not an easy thing to "walk thru" on a public forum ... you need one on one guidance ... call TT support for directions or upgrade to the LIVE version or seek local professional assistance. 

 

https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number

 

What is TurboTax Live?

https://ttlc.intuit.com/replies/6071042

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