I am using TurboTax Premiere 2023. I received two schedule K-1s (from an Irrevocable Trust), one federal, one state (Kentucky). Both K-1s show identical information no gross income (only losses C & D). During the TT federal interview process, TT inquired about the K-1. However, when I went through the TT state interview, TT did not ask questions about the Kentucky K-1. I see that TT carried over the loss amount to my KY form 740, but there is no Kentucky K-1, only an "Activity Worksheet" for the Irrevocable Trust. My question is, am I done? Do I need to separately file (via "snail" mail) the Kentucky K-1? What about the Kentucky Form 741?
You'll need to sign in or create an account to connect with an expert.
No, if the information from the federal Schedule K-1 was carried over correctly to your state return, you should have no entries to make from the state K-1. You are not required to submit either K-1 with your federal or state tax returns.
Thanks for your help!
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Rejected Federal
Returning Member
gnest02
Level 1
Shawn B1
New Member
trelawneyscroggins
New Member
LidiaTapia
New Member