How to prepare Schedule K-1 (Form 1065) for tax year 2025?

[user17730921876]

I need to prepare schedule K-1 for my LLC.  We have two partners. I purchased the TurboTax Home and Business version.  Can I use this version for preparing the Schedule K-1?

[M-MTax]

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@user17730921876 wrote:

I need to prepare schedule K-1 for my LLC.  We have two partners. I purchased the TurboTax Home and Business version.  Can I use this version for preparing the Schedule K-1?

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No. You need TurboTax Business to prepare a 1065 and associated K-1s.

See https://turbotax.intuit.com/small-business-taxes/cd-download

You would then use Home & Business to enter the K-1 that you generated with TurboTax Business.

[ThomasM125]

No, you need to use the TurboTax Business product to prepare a partnership Form 1065. Once you complete the business return, the K-1 schedules will be generated. Here is a link to where you can obtain the Business product from Intuit.