Why doesn't TurboTax have an import section for K1s like they do for 1099INT, 1099DIV and 1099B. I can't be the only taxpayer who invests in a large number of master limited partnerships which all are now online and can be downloaded. I find it frustrating that the lack of instructions and help on this matter has not improved after so many years. There should be a import section to give you option to import or manually enter the K1s. How hard can that be?? You cant find anything regarding it in
the search engine. Which really surprising! See pics!
You'll need to sign in or create an account to connect with an expert.
it does have what you say think it doesn't have. I've been using this feature for more than 10 years. provided the MLP/PTP provides a .txf file (not all do). check this website and if it does (you may have to search after you log in to find the proper link) https://www.taxpackagesupport.com/ find yours then click on the link to get to that k-1 website. you can then download the file and import it. warning you may be required to fix certain items for which no specific detail is provided like line 11 of the k-1.
***************************
Once you have the download, each partnership is separate and you have your return open
go to the file tab; click on the import link; select from accounting software; in the new window select other financial software (txf file); then click on continue; browse for the file (so best to download to desktop or anywhere else as long as you know where); highlight the txf file with your mouse; click import now
*********************
repeat for the next one
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Taxes4Fun
New Member
gregory-cooper
New Member
stroperson
New Member
mjdempsey52
New Member
wilsondg43
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.