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Returning Member
posted Mar 20, 2022 11:55:45 AM

Which box, in Turbotax Self-Employed, do I put the dollar amount from line 12 of my K-1? Section 179 Deduction from 2021 or Section 179 Deduction Carryover from 2020?

0 3 469
3 Replies
Expert Alumni
Mar 20, 2022 12:25:38 PM

Can you clarify if your K-1 is from Form 1065 or Form 1120S?

Returning Member
Mar 22, 2022 9:13:49 AM

My apologies. The K-1 is from 1065.

Expert Alumni
Mar 22, 2022 9:42:45 AM

To enter a Form K-1 from Form 1065 in TurboTax Online:
 

  1. Click on Federal on the left toolbar
  2. Click on Wages and Income on the top 
  3. Scroll down to S-corps, Partnerships, and Trusts and select Show More
  4. Click on Start or Revisit for Schedule K-1
  5. It will ask you to select if it came from a Form 1065, or another form.
  6. When you proceed it will come to a screen and ask you to check which boxes on your Form K-1
  7. Just be sure you click box 12 and it will give a dialog box for depreciation entries.