K1 isnt working

Are you referring to entering a K-1 that you prepared or a K-1 that you received from an investment that you hold?  Please clarify.

 

If you are entering a K-1 received from an investment that you own and you are entering the K-1 into TurboTax Online Premium, follow these steps.

 

• Down the left side of the screen, click on Federal.
• Down the left side of the screen, click on Wages & Income.
• Under Your income and expenses, scroll down to S-corps, Partnerships, and Trusts and click the down arrow to the right.
• Select Start/Revisit to the right of Schedule K-1.
• At the screen Tell us about your Schedule K-1, you tell the software which Schedule K-1 you received.
• For several screens, you will be entering data right off the K-1 form.

 There are three different kinds of K-1’s that can be entered into TurboTax software.

 

• Partnerships/LLCs (form 1065)
• S corporations (form 1120S)
• Estates and trusts (form 1041)

You should be able to read the top of the form and determine which K-1 that you will be entering.

 

Not knowing what kind of K-1 you are entering, please refer to the links on the page or contact us for further questions.