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nateg
New Member

Where do I enter a K1?

 
1 Best answer

Accepted Solutions
MichelleT
Level 2

Where do I enter a K1?

The schedule K-1 is actually created in TurboTax Business when filing a business return for your LLC, S Corp, C Corp or trust.

To enter a Schedule K-1 (If you already have received a K-1 and need to enter it )

  • Click on Federal Taxes (Personal if using Home and Business)
  • Click on Wages and Income (Personal Income if using Home and Business)
  • Click on I'll choose what I work on (if shown) or Add more income
  • Scroll down to S-corps, Partnerships, and Trusts, click show more, 
  • On Schedule K-1, click on the start or update button

Note: You may be prompted to upgrade to Premier, if you are using the Federal Free version of TurboTax.

View solution in original post

5 Replies
MichelleT
Level 2

Where do I enter a K1?

The schedule K-1 is actually created in TurboTax Business when filing a business return for your LLC, S Corp, C Corp or trust.

To enter a Schedule K-1 (If you already have received a K-1 and need to enter it )

  • Click on Federal Taxes (Personal if using Home and Business)
  • Click on Wages and Income (Personal Income if using Home and Business)
  • Click on I'll choose what I work on (if shown) or Add more income
  • Scroll down to S-corps, Partnerships, and Trusts, click show more, 
  • On Schedule K-1, click on the start or update button

Note: You may be prompted to upgrade to Premier, if you are using the Federal Free version of TurboTax.

View solution in original post

YahWehLikes68
New Member

Where do I enter a K1?

If I have 10 K-1s to enter for 2019 that were the same as ones from 2018, turbo tax prompts me for each one.  Is there a way to skip to one I want to work on?

MinhT1
Expert Alumni

Where do I enter a K1?

@YahWehLikes68

 

If you wish to skip a schedule K-1, just click Continue until you get to the end the K-1 entry.

 

You can always go back and edit the skipped K-1 later.

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kelilynn65078
Returning Member

Where do I enter a K1?

Which download version do I need to be able to enter my k-1 i received for 2020. Does the deluxe version let you enter k-1 you have received?

JeffreyR77
Expert Alumni

Where do I enter a K1?

The Desktop/CD version of TurboTax Basic or Deluxe will allow you to enter K1 income. 

 

TurboTax online you will need Premier or above.

 

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