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How do I report K-1 partnership income through Schedule E?

In the past, Schedule E has been used for both rental property AND partnership income.  (I've been doing it that way for years)  In 2018, there does not seem to be provision for reporting K-1 partnership income through Schedule E.   It seems to be limited to rental property and royalties only.  I have added a K-1 to my TurboTax return and the loss on the K-1 is not flowing through into my 1040.  How do I resolve this?

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3 Replies
Ashby
New Member

How do I report K-1 partnership income through Schedule E?

Here are the directions for entering your K-1 which it sounds like you've done. The income/loss from the partnership is still reported on Pg. 2 of the Schedule E. Follow these instructions and see if it shows up on Pg. 2 of Sched E and flows through to your 1040.

  1. In your TurboTax program, search for K-1 and select the "Jump to" link in the search results.
  2. This will take you to the Schedule K-1 and Schedule Q screen.
  3. Answer Yes and follow the prompts.
  4. We’ll ask some questions about your K-1, and then you’ll enter the data from the form into TurboTax.

How do I report K-1 partnership income through Schedule E?

I am using online Premiere edition and it doesn’t allow me to connect K-1 with Schedule E. On review it says I need to select an Schedule E but when I double click on the box to select a schedule E, none of them show up. How do I select the proper Schedule E so that review will be successful?

DaveF1006
Expert Alumni

How do I report K-1 partnership income through Schedule E?

It depends. On your K1, did you report income in  Box 2 or Box 3 in the program? If so, a Schedule E P.2 should have been generated, with an entry in boxes 29, 30,32, 41 of the form. 

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