DMarkM1
Expert Alumni

Get your taxes done using TurboTax

Understand.  First enter the Federal K1 in the Federal "Wages and Income" section.  Then go to your NC state interview and and you'll only need to click through a few pages to arrive at "Tell us about your K1."  

 

  1. Continue
  2. Edit the K1
  3. Answer/make selections and enter amounts in the appropriate boxes from your NC K1
  4. The next pages will be the details of the additions and subtractions that actually flow to the NC forms
  5. You should find those details in a NC K-1 Supplement Schedule Owner or Beneficiary's Share of N.C. Additions and Deductions which should accompany your NC Schedule K-1
  6. The detailed amounts need to be entered in Column A with a matching amount in Column B for NC.  (NOTE: Column B entries do not go on any tax forms they are only for e-filing purposes) 
  7. Column A amounts go the correct NC forms and the total needs to match the appropriate box (Additions or Subtractions) you entered on the initial summary page
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