How do I enter Charitable Contributions and Interest Expense information from Box 13 Code T of my Schedule K-1 (Form 1065) into TurboTax Premier Online?

[Ed-J0]

I am able to enter ALL information from Box 13 Code T of my schedule K-1 into TurboTax except for Charitable Contributions and Interest Expense.  TurboTax does not provide fields for these two entries.

[IreneS]

You can't use Code T for Charitable....you have to use codes A, B, C, OR D.
What type of "interest expense"?

[Ed-J0]

My Schedule K-1 Box 13 has nine line items grouped under Code-T, two of which are Interest Expense and Charitable Contributions.  The K-1 is for Calumet Specialty Partners, LP (CLMT).  They are in the oil and gas refining business and have lots of debt so I'm guessing that the Interest Expense is for loans.  Maybe the Interest Expense should be under Code-H and not Code-T??

[IreneS]

I agree - Code H - Investment interest expense.

[Ed-J0]

I truly appreciate your help.  My Schedule K-1 appears to be the problem, not TurboTax.  I'll have my broker look into the matter and re-issue the K-1 if necessary.

[IreneS · Accepted solution]

Enter information for the Schedule K-1, following these steps:

1. Click on Federal > Wages & Income
2. In the S-Corps, Partnerships, and Trusts section click on the box next to Schedule K-1.  [In CD/Download version:  Business Investment and Estate/Trust Income.]
3. Click Yes on the next screen, Did you receive any Schedules K-1?
4. On the Tell Us About Your Schedules K-1 screen.  Click on the Start/Update box next to the type of entity (partnership, S-corporation, or trust/estate) that issued the K-1.   
5. If you have already entered K-1 information, you will see a Summary screen.  Click Add Another K-1 to enter your information  (or click on Edit to continue with the existing form entry).  
6. If you haven't started entering K-1 information, continue through the screens, entering the requested information.
7. When you reach the screen, Check Boxes That Have an Amount, be sure to check Box 13. 
8. On the next screen, Enter Box 13 Info, select the correct code from the list in the Enter Code column.  Codes A-D pertain to charitable contributions.  [Code T is for Domestic Production Activities.]  
9. If you need more than three lines, an extra line will appear automatically when you start filling out the last line.
   

[Edited | 3/19/2020 |  12:26 pm PDT]