Question on a K-1 form?

[pattivance]

I got a K-1 2654 net long-term capital gain

[Anonymous]

great. so now what's your question?  it is reportable on your tax return but the free edition probably doesn't handle K-1's so you'll need to upgrade

[Critter]

To enter a K-1 go to 
Federal Taxes Tab ( Personal in the H&B versions )
Wages and Income
Choose Explore on my own or I'll choose what to work on  (if it comes up)
Then scroll way down to Business Items
 S-corps, Partnerships, and Trusts.  Schedules K-1, Q - Click the Start or Update button 

Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S