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Should I start over? Mostly finished but I need to add one last schedule: K-1 (Beneficiary's Share f Income, Deductions, Credits, etc.) What do I do now?

I must have used too basic plan to start with.
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IreneS
Intuit Alumni

Should I start over? Mostly finished but I need to add one last schedule: K-1 (Beneficiary's Share f Income, Deductions, Credits, etc.) What do I do now?

No - You don't need to start over.  If you are using the online version of TurboTax Deluxe, when you start entering information from the K-1 you will be prompted to Upgrade to Premier.  All your information will be saved and you will be able to then enter the K-1.

You can also upgrade in your return by clicking the Upgrade link in the black bar on the left of your screen.

To enter the K-1 in your personal return, please follow these steps:

  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. Click Yes on the next screen, Did you receive any Schedules K-1?
  4. On the Tell Us About Your Schedules K-1 screen.  Click on the Start/Update box next to the type of entity that issued the K-1 (S-Corps, Partnerships, Trust/Estate).
  5. 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).   
  6. If you haven't started entering K-1 information, continue through the screens, entering the requested information.

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

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1 Reply
IreneS
Intuit Alumni

Should I start over? Mostly finished but I need to add one last schedule: K-1 (Beneficiary's Share f Income, Deductions, Credits, etc.) What do I do now?

No - You don't need to start over.  If you are using the online version of TurboTax Deluxe, when you start entering information from the K-1 you will be prompted to Upgrade to Premier.  All your information will be saved and you will be able to then enter the K-1.

You can also upgrade in your return by clicking the Upgrade link in the black bar on the left of your screen.

To enter the K-1 in your personal return, please follow these steps:

  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. Click Yes on the next screen, Did you receive any Schedules K-1?
  4. On the Tell Us About Your Schedules K-1 screen.  Click on the Start/Update box next to the type of entity that issued the K-1 (S-Corps, Partnerships, Trust/Estate).
  5. 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).   
  6. If you haven't started entering K-1 information, continue through the screens, entering the requested information.

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