PatriciaV
Expert Alumni

Get your taxes done using TurboTax

At this time, the Schedule K-1 section of TurboTax is not available for entry. For this reason, you wouldn't be able to enter last year's K-1 information to use for estimating your tax liability. 

However, you could enter the taxable income from the prior year K-1 under Other Common Income (without a 1099) and see how that affects your tax due. Just remember to delete this information when you enter the current year K-1.

 

Finally, if the K-1 income is a very small portion of your total income, you won't incur an underpayment penalty if you paid 90% of your estimated tax or 100% of the tax shown on your 2022 return.

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