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abailey46
New Member

Why doesn't the K1 (Form 1065) in Turbotax have a section "M" under Part II?

I am entering data from a K1 (Form 1065) prepared by my accountant for a family partnership.  Under Part II on the form, the accountant has checked "No" in section "M" to answer the question "Did the partner contribute property with a built-in gain or loss?"  There is no section "M" on the form in the latest downloaded update of Turbo-tax.  I checked the IRS website and the latest 1065 does have a section "M".  

1 Reply
JulieR
New Member

Why doesn't the K1 (Form 1065) in Turbotax have a section "M" under Part II?

You are not required to enter the information reported in Part II of the K-1 (1065) section "M" on your return.  That is why it is not shown on the Schedule K-1 Partnership Worksheet in Turbo Tax.

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