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thesmiths805
Returning Member

Schedule K-1. Oil Partnerships very often require you to attach a text statement(s) to your return. Is there anyway to do this in Turbotax Premier?

Example is:

IRC Section 751 Statement:  which is then followed by a four line paragraph of text.

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RichardG
New Member

Schedule K-1. Oil Partnerships very often require you to attach a text statement(s) to your return. Is there anyway to do this in Turbotax Premier?

You can prepare your tax return as usual with TurboTax.  However, there is no way to attach statements to the return and e-file the return.  You'll need to mail in your tax return in this instance.

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4 Replies
RichardG
New Member

Schedule K-1. Oil Partnerships very often require you to attach a text statement(s) to your return. Is there anyway to do this in Turbotax Premier?

You can prepare your tax return as usual with TurboTax.  However, there is no way to attach statements to the return and e-file the return.  You'll need to mail in your tax return in this instance.

thesmiths805
Returning Member

Schedule K-1. Oil Partnerships very often require you to attach a text statement(s) to your return. Is there anyway to do this in Turbotax Premier?

Are there any plans for Turbotax to add this capability or is it the IRS that needs to be able to accept them?
jim-godfroy
New Member

Schedule K-1. Oil Partnerships very often require you to attach a text statement(s) to your return. Is there anyway to do this in Turbotax Premier?

If you use turbotax it is a disaster on K-1's . You are better off not owning them in a taxable account. I have a 20T and told to call the company to see where to put interest expense. Upgrade did nothing to improve the experience!  The joke is on those who expect TurboTax to be a good experience!
nexchap
Level 8

Schedule K-1. Oil Partnerships very often require you to attach a text statement(s) to your return. Is there anyway to do this in Turbotax Premier?

There is a 'blank form' included in Forms Mode.  All the statements can be added there.  You still can't efile (the 'blank form' isn't included when efiling), but at least you can keep everything together in a single TT file.
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