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Level 2

Question

Schedule K-1, Form 1041

Forum|Forum|5 years ago
April 9, 2021
1 reply
0 views

I have entered on the Turbo Tax program K-1, Box 1: Interest Income: $6259 and Box 2: Ordinary Dividends: $8104 and Box 2b: $6051.

After I complete the Turbo Tax K-1, Form 1041 input section and return to the main program: "Your 2020 Income Summary" : Business Items, K-1, Show "zero" for 2020 income??

Why didn't my input income carryover to the "Income Summary" page??

Level 15

When you enter information from a K-1 into TurboTax, the program distributes the various items of income to the appropriate schedules and lines on your income tax return.

It is common for the K-1 Summary to show "$0".

Richard6625Author

Level 2

Thank you for your reply however, I do not see any additional income distributed to my existing interest or dividends??