- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I started an s-corp in 2016 and had an accountant process my return for the business (I have my K-1 form). How is the processing of my return different?
Topics:
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I started an s-corp in 2016 and had an accountant process my return for the business (I have my K-1 form). How is the processing of my return different?
You now need to input the amounts on the K-1 into your personal tax return. This is done on Schedule E. I would recommend you use the interview process that TT provides. It will ask the general questions and then ask what boxes your K-1 has amounts in. TT Premier online will handle the Schedule E.
*A reminder that posts in a forum such as this do not constitute tax advice.*
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I started an s-corp in 2016 and had an accountant process my return for the business (I have my K-1 form). How is the processing of my return different?
You now need to input the amounts on the K-1 into your personal tax return. This is done on Schedule E. I would recommend you use the interview process that TT provides. It will ask the general questions and then ask what boxes your K-1 has amounts in. TT Premier online will handle the Schedule E.
*A reminder that posts in a forum such as this do not constitute tax advice.*
Still have questions?
Make a post
Or browse the Forums