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wderric1
New Member

I need to do my business partnership taxes

I have a partnership and I want to do the partnership taxes. When I logged on it asked me if I have a business, I selected "yes" then continued, but I never saw where it asked for partnership information. However, I've already entered all of the necessary information for my business. What do I do?
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4 Replies

I need to do my business partnership taxes

You will need TurboTax Business version for partnership returns. You can find it here https://turbotax.intuit.com/small-business-taxes/

And you will need at least TurboTax Premier or Self-Employed online version for your personal return so that you can enter your K-1s. Personal versions here https://turbotax.intuit.com/personal-taxes/compare/online/

NOTE: TurboTax Business is a Windows-only software program available as a CD or download. There is no online version. It will only handle your business return, not personal return. 

https://ttlc.intuit.com/replies/3301507

https://ttlc.intuit.com/replies/3349034

kblatter2
New Member

I need to do my business partnership taxes

I am a partnership which is a partner in another partnership. I receive a k-1 form from the partnership.  Where do I enter my k-1info on my partnership?

I need to do my business partnership taxes

If you are using the Online version you need to use Premier or higher to enter a K-1.  You can enter it into all the Desktop programs.

 

To enter a K-1 go to

Federal Taxes Tab or Personal (Home & Business version)

Wages and Income

Then scroll way down to Business items

Schedules K-1, Q - Click the Start or Update button

 

Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S

Enter each k-1 separately.

I need to do my business partnership taxes

If you mean your partnership   got a K-1 form from being a partner in another partnership  then you will need to breakdown the K-1 into its parts and enter the items in manually ... there is no K-1 entry screen in the Business program. 

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