Where do I enter a K1?

[PatriciaV]

Please clarify: 

1. Is this a Single-Member LLC or a multi-member LLC? This answer may explain some of your difficulties.
2. Were you able to install TurboTax Business?
3. Were you able to install TurboTax Home & Business?
4. Were you able to install Kentucky State for either product?

For future reference: Where do I enter a K-1 that I received?

@MeMe2022 

[lwong621]

My experience is to modify a bit MichelleT's:

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/submitted a K-1 and need to pass through)

• Click on Federal Taxes (Personal if using Home and Business)
• Click on Income & Expenses on top
• If you don’t see ‘S-corps, Parnerships, and Trusts’ in the panel, click ‘Show More’ button below the panel
• Scroll down to find 'S-corps, Partnerships, and Trusts', click show more, 
• On Schedule K-1, click on the start or update button

Note: I'm using the Premier online.

[diggrab]

I am prompted to use the Business form.  I was told by the previous person that I could Not use my Mac to fill out the Business form.

[diggrab]

I was told that I can't use the business form with my computer.  The whole problem is that the person who helped me fill in all the other information used the 
Senior form which will not accept information from the business form.  The person who told me that said she was sorry.

[diggrab]

I guess that I need to start all over with a business form in place of the Senior form. ?????

[VolvoGirl]

Please explain more.  The senior form is the 1040 SR personal return.  You can prepare personal returns on your Mac.  The separate Business program for LLC, Partnerships and Corps is only available for Windows.  Do you need to prepare a separate Business return like a 1120 or 1065 or 1041 Estate/Trust?  Or just file a schedule C in your personal return?  

You can enter a K-1 you get into any personal Desktop program.   And you can't transfer from a 2021 Business return into the personal returns or personal into Business.  

[carollehunt]

i received a k-1.  i don not want to file one

[VolvoGirl]

To enter a K-1 go to

Federal Taxes Tab or Personal (Home & Business version)

Wages and Income

Then scroll way down to S-Corp, Partnerships and Trusts

Schedules K-1 - Click the Start or Update button

Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S