PatriciaV
Expert Alumni

Get your taxes done using TurboTax

There doesn't seem to be a way to specially allocate flow-through income reported on Line 4. If you reported that income on Line 11, you would need to manually enter the allocated income on each Schedule K-1 Line 11 with an appropriate description.

 

The reason you have self-employment income is because you have only general partners. The IRS rules say that general partners receive self-employment income from a partnership. As long as you indicate that you have only general partners, you will struggle to prepare an accurate tax return.

 

You may wish to seek the advice and assistance of a local tax professional who has access to commercial tax software that allows more flexibility in how income is reported on the return and the K-1s. TurboTax is not intended to be used in extraordinary circumstances such as your group partnership.

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