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New Member
posted Feb 16, 2021 10:28:18 AM

Where do I find the box to check off final schedule k1?

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3 Replies
Expert Alumni
Feb 16, 2021 11:00:53 AM

It depends.  For a partnership, in TurboTax Business you will go to the Business Info tab, and select the Shareholder/Partner Information link.  You will be able to select a box to indicate a partner has left the company this year.

 

Similarly, for a shareholder in an S-Corporation or C-Corporation, in TurboTax Business, go to the Busness Info tab, and select the Shareholder information link.  You will be able to indicate this was the last year a shareholder had shares in the Corporation.

 

 

 

 

 

 

 

New Member
Feb 16, 2021 11:58:05 AM

I’m using the self employed edition not the business edition. 

Expert Alumni
Feb 16, 2021 12:14:27 PM

When you are in TurboTax this question is asked when you begin the K-1 entry (1065-K1 or 1120S-K1, etc)

Below are the initial screens asking about whether this ended in 2020.

  1. Sign into your TurboTax account > Select Search (upper right) > Type k-1 > Press enter > Select the Jump to... link
  2. Continue to follow the screen prompts to reach and answer these questions about the disposition or sale