turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

davemsu
New Member

Inputing K-1 information

I can't even detail my questions but need to explain on the phone

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies
IreneS
Intuit Alumni

Inputing K-1 information

What kind of entity isued the K-1--a partnership, S-Corps, or Estate/Trust?
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
IreneS
Intuit Alumni

Inputing K-1 information

This is an online forum and we are not able to call you.

But let me outline the steps for entering a K-1 and maybe that will answer your questions. 

Please make sure you use the right K-1 entry form. There are actually three types of K-1s, depending on the type of entity creating the K-1: partnership, S-corporation and trust/estate.  Lines and codes on the forms differ from each other.

  1. Click on Federal > Wages & Income
  2. In the S-Corps, Partnerships, and Trusts section click on the box next to Schedule K-1.
  3. On the Tell Us About Your Schedules K-1 screen.  Click on the Start/Update box next to the type of entity (partnership, S-corporation, or trust/estate) that issued the K-1.   Be careful to choose the right type of K-1!
  4. If you have already entered K-1 information, you will see a Summary screen.  Click Add Another K-1 to enter your information  (or click on Edit to continue with the existing form entry).    
  5. If you haven't started entering K-1 information, continue through the screens, entering the requested information.

A common issue:
If you have amounts in both box 1 and box 2 of the K-1 you need to create two K-1s and divide the entries between the two forms. 
  • On the first K-1, enter all the boxes except box 2.

  • On the second K-1, enter only the information in box 2.


If this information does not solve your issue you can contact TurboTax Support using these methods:

https://ttlc.intuit.com/replies/6386727

To contact TurboTax customer service/support use their contact website during business hours.  If the problem concerns any type of refund for fees, use the key words billing issues and do Not use the word Refund or you will get a phone number for tax refunds.

Submit your question/problem during business hours and then use the option for Call (a phone number will be provided for Call) to speak directly with a TurboTax agent -

Note:  The Call option will not be available when TurboTax Support is closed.

Support can also be reached by messaging them on these pages https://www.facebook.com/turbotax/ and https://twitter.com/TeamTurboTax








**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Anonymous
Not applicable

Inputing K-1 information

Partnership LLC,  I have this years turbo tax trying to enter 2 partner, can only enter one

ThomasM125
Employee Tax Expert

Inputing K-1 information

You need to go to the Schedule K-1 worksheet, where you will see the K-1 you entered. In the drop down box on the right, move the slider all the way down and you will see a new K-1 that you can populate for a new partner. It will be below the one you see when you bring up the worksheet.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies