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theguins
New Member

I received a Schedule k-1 (Form 1041) along with a Georgia form 501. Is there somewhere to enter the Georgia 501 form or will the income flow over to the State Return once I enter the information from the Schedule K-1 (form 1041) into the federal side?

 
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1 Reply
DawnC0
Intuit Alumni

I received a Schedule k-1 (Form 1041) along with a Georgia form 501. Is there somewhere to enter the Georgia 501 form or will the income flow over to the State Return once I enter the information from the Schedule K-1 (form 1041) into the federal side?

No, the K-1 income will flow over to your GA income tax return (Form 500), but not to Form 501 (Fiduciary Income Tax Return).  TurboTax does not handle that form. 

You would complete the 501 only if you If you’re filing a 1041 on behalf of an estate or trust which can be done in TurboTax Business.  If this applies to you, see this article: https://turbotax.intuit.com/tax-tools/tax-tips/General-Tax-Tips/Video--What-Is-a-Fiduciary-Income-Ta...

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