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I purchased Turbo Tax Business 2023 software and did my partnership taxes now i need to file my 1040 federal and 2 state?

how to use turbo tax online and my downloaded software together?
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3 Replies
JamesG1
Employee Tax Expert

I purchased Turbo Tax Business 2023 software and did my partnership taxes now i need to file my 1040 federal and 2 state?

That is correct.

 

Your IRS form 1065 US Return of Partnership Income will generate a Schedule K-1 (Form 1065).

 

The Schedule K-1 (Form 1065) reports business income or loss, interest, dividends and other tax attributes from the IRS form 1065 pass-through entity.

 

Recipients report the Schedule K-1 on their own personal tax returns.  See this TurboTax Help.

 

@streetstylerseve 

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I purchased Turbo Tax Business 2023 software and did my partnership taxes now i need to file my 1040 federal and 2 state?

Hi thank so much for the reply. My ultimate question is there an easy way to transfer all my info to the automated turbo tax personal taxes from the software? Instead of typing it all out again. 

CarissaM
Intuit Alumni

I purchased Turbo Tax Business 2023 software and did my partnership taxes now i need to file my 1040 federal and 2 state?

The two systems are not connected. You can transfer a prior year return in, however if just doing the one year you would need to manually enter the data. @streetstylerseve 

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