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skopelman
New Member

How do I add My Schedule K-1 Income to the Schedule D on my 1040? There is no way to enter it manually & the company does not show up in Turbo Tax Online.

 
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2 Replies
JamesG1
Expert Alumni

How do I add My Schedule K-1 Income to the Schedule D on my 1040? There is no way to enter it manually & the company does not show up in Turbo Tax Online.

Are you trying to report income reported on the Schedule K-1?  Or are you wanting to report the sale of the investment which issued the Schedule K-1?  Please clarify.

 

To enter an IRS form K-1 into TurboTax Online Premium, follow these steps.

 

  • Down the left side of the screen, click on Federal.
  • Down the left side of the screen, click on Wages & Income.
  • Under Wages and income, scroll down to S-corps, Partnerships and Trusts and click to the right.
  • Click Start / Revisit or Edit / Add to the right of Schedule K-1 or Business partner income statement.
  • At the screen Tell Us About Your Schedules K-1, click to the right of the Schedule K-1 that you want to enter.
  • Enter the K-1 information as requested.
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How do I add My Schedule K-1 Income to the Schedule D on my 1040? There is no way to enter it manually & the company does not show up in Turbo Tax Online.

You enter your K-1 through the TurboTax K-1 worksheet. Not elsewhere because it will end up on the wrong lines of forms and schedules, resulting in IRS notices. 

 

You'll have to upgrade to premium which supports K-1s

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