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posted Apr 3, 2022 12:50:58 PM

Is Schedule K the same as Schedule K-1?

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1 Best answer
Level 15
Apr 3, 2022 1:06:19 PM

Is Schedule K the same as Schedule K-1?

 

Not really.

 

Schedule K-1can be issued by a trust, estate (1041). an S corporation, or a multi-member LLC/partnership.

 

Schedule K is part of the returns for corporations (Forms 1120 and 1120-S) and multi-member LLCs/partnerships (Form 1065).

3 Replies
Level 15
Apr 3, 2022 1:06:19 PM

Is Schedule K the same as Schedule K-1?

 

Not really.

 

Schedule K-1can be issued by a trust, estate (1041). an S corporation, or a multi-member LLC/partnership.

 

Schedule K is part of the returns for corporations (Forms 1120 and 1120-S) and multi-member LLCs/partnerships (Form 1065).

Level 1
Mar 31, 2025 8:58:33 AM

I can't find a place on Turbo Tax deluxe to enter my k-1 information. I can only see sch K

Level 15
Mar 31, 2025 9:00:09 AM


@MIKEYP12 wrote:

I can't find a place on Turbo Tax deluxe to enter my k-1 information. I can only see sch K


To enter a Schedule K-1

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Business Items (Business Investment and Estate/Trust Income using Home and Business)
On Schedule K-1, Q, click on the start or update button