Married business owner 50/50

[CH1974]

So when filing using the Schedule K on my personal 1040 using self employed I only enter the profit on the Schedule K as the income? Yet, it asks me for all of my deductions and expenses again just like on turbo tax business to get the 1065 done. Is that right? 

[Anonymous]

do you really mean schedule K-1 for each partner that comes from the partnership return? 

it is the K-1s that get entered on your 1040.  in turbo tax look for k-1 partnership.   in step by step mode - it may ask for items that don't apply. only most of the lines on the k-1 that are not blank or 0 need to be entered.    there are some lines on the K-1 that can be skipped.  like line 19.  line 20 also may contain some data that can be skipped but there are too many possibilities for me to give you advice.   

[CH1974]

It was as if my 1040 was asking me to start over instead of entering the k-1 figure

thanks

[Critter]

Do NOT enter the business income & expenses again on the personal return in the Sch C section ... you will ONLY enter the K-1 in the K-1 section ...

To enter a K-1 go to 
Federal Taxes Tab ( Personal in the H & B or SE  versions )

Income & expenses
Choose Explore on my own or I'll choose what to work on  (if it comes up)
Then scroll way down to Business Items
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