You'll need to sign in or create an account to connect with an expert.
If your business qualifies as a partnership, the business is required to file Form 1065, U.S. Return of Partnership Income, and from that, the business will issue you a Schedule K-1. You then enter the information from the K-1 into TurboTax for your personal return by following these steps:
Are you filling out Schedule C? That's wrong. You should be filing a separate Partnership return, either a 1120 or 1065. Then you get a schedule K-1 to enter into your personal return. You might need to get local CPA or tax accountant help to set it up right.
If your business qualifies as a partnership, the business is required to file Form 1065, U.S. Return of Partnership Income, and from that, the business will issue you a Schedule K-1. You then enter the information from the K-1 into TurboTax for your personal return by following these steps:
You count everything, exactly as shown on the 1065 Form K-1 issued to you by the partnership.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Atari88
New Member
fillini00
Level 2
joycesyi
Level 2
J3SS1CA
New Member
WhatsUpChknButt
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.