You'll need to sign in or create an account to connect with an expert.
The partnership files its own separate tax return just for the business. You can use Turbotax Business -- this is not the regular personal Turbotax program and is only available for PC; not online and not on Mac. As part of the partnership return, each partner gets a K-1 statement that lists their share of income and expenses.
Then, on you and your spouse's personal tax return, you include all your income and personal deductions and dependents, including any W-2s, the K-1, and any other investment income, etc.
The partnership files its own separate tax return just for the business. You can use Turbotax Business -- this is not the regular personal Turbotax program and is only available for PC; not online and not on Mac. As part of the partnership return, each partner gets a K-1 statement that lists their share of income and expenses.
Then, on you and your spouse's personal tax return, you include all your income and personal deductions and dependents, including any W-2s, the K-1, and any other investment income, etc.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
NS1
Level 3
sunnyguy
Level 1
LLLnew
Level 2
fchiappara
New Member
PerpetuallyConfused
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.