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Schedule K-1 is a federal tax document used to report income from pass-through entities including partnerships, S corporations, estates, trusts, and LLCs.
Your Schedule K-1 may not arrive until March, April, or even later. This is because the pass-through entity needs to complete their tax return before they can distribute K-1s.
Recipients report the Schedule K-1 on their own personal tax returns. To enter your K-1 information, select your version of TurboTax and follow the instructions provided:
If you are in the Online version you need to upgrade to the Premier version to enter K-1.
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.
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