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How do I issue a K-1?

by TurboTax33 Updated 1 month ago

To issue K-1s to your partners, shareholders, or beneficiaries, you'll need TurboTax Business. Select your TurboTax Business version:

  1. Open your return in TurboTax Business.
  2. Complete your business return, if you haven't already done so (otherwise, your K-1s won't be correct).
  3. Select File, then Distribute K-1s.
  4. Select how you want to create your K-1s and follow the instructions.
  1. Complete your return in TurboTax Live Assisted Business.
  2. From the left side menu, select Tax Tools.
  3. Select Print Center. You will be prompted to pay if you haven't ‌paid yet. 
  4. On the TurboTax Print Center screen, select Print, save or preview this year’s return.
  5. Check the box for the return that includes Schedule K-1.
  6. Select Just my tax return(s).
  7. Select View or print forms.
  8. View the tax return to determine which PDF pages display the K-1s.
  9. On the TaxReturn.pdf popup, select the printer icon.
  10. On the print settings popup:
    1. If you’re printing a paper schedule and mailing it, set the Destination for your printer or
    2. If you’re attaching a PDF to an email, set the Destination for Save as PDF.
    3. Select the Pages dropdown menu, select Custom, and enter the page numbers identified in step 8.
    4. Select Print.
  11.  If you’re attaching a PDF to an email, on the Save As popup:
    1. Specify a file name (for example, Schedule K-1).
    2. Ensure the Save as type is PDF Document (*.pdf).
    3. Select Save.
  12. The schedule is now either printed or saved; you can mail it or email it.

Once your return is completed in TurboTax Full Service Business:

  1. With Full Service selected from the left side menu, select Checklist from the icons at the top of the screen.
  2. Scroll down to Other docs.
  3. Across from 2024_SignedTaxReturn.pdf, select the three dots, and select View.
  4. View the tax return to determine which PDF pages display the K-1s.
  5. Select the printer icon.
  6. On the print settings popup:
    1. If you’re printing a paper schedule and mailing it, set the Destination for your printer or
    2. If you’re attaching a PDF to an email, set the Destination for Save as PDF.
    3. Select the Pages dropdown menu, select Custom, and enter the page numbers identified in step 4.
    4. Select Print.
  7.  If you’re attaching a PDF to an email, on the Save As popup:
    1. Specify a file name (for example, Schedule K-1).
    2. Ensure the Save as type is PDF Document (*.pdf).
    3. Select Save.
  8. The schedule is now either printed or saved; you can mail it or email it.