Schedule k1 form 1065

[howell-amym]

We have 2 K-1s for (what we assume) is our investments that were moved by our advisor.  The 'type of entity' is IRA/SEP.  trying to do TT ad being told we own a business bc of this 1065.  income is less than $100 total for both K1s.  How important is this to be included on our returns bc now, according to TT, we must upgrade to premium bc of the K1s.

[MichaelL1 · Accepted solution]

If these K-1 are from an IRA/SEP then you do not report them anywhere on your return.

The only reporting on an IRA/SEP is when money is put in, or money taken out. 

[howell-amym]

Thank you very much!