Unlike W-2 and 1099 forms which are usually delivered by February,
your K-1 may not arrive until March, April, or even later. This is
because the K-1 issuer needs to complete their tax return before they can send out Schedule K-1.
Form K-1 must be entered manually into TurboTax
K-1 could previously be imported into TurboTax. However, at this time the form must be entered manually.
If you haven't filed yet:
- Open your return in TurboTax.
(To do this, sign in to TurboTax and then click the orange Take me to my return button.)
- In your TurboTax program, search for K-1 or K1 (lower-case works too) and then click the "Jump to" link in the search results.
-
If you don’t see a “Jump to” link, then you’re not in your return. See Step 1.
- This will take you to the Schedules K-1 or Q screen (or the Schedule K-1 and Schedule Q screen if you are using the CD or download software)
- Answer Yes and follow the prompts.
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Note: You may be prompted to upgrade to Premier, depending on which version of TurboTax you're using.
- We’ll ask some questions about your K-1, and then you’ll enter the data from the form into TurboTax.
If you already filed your return
If your e-filed return was already accepted or you already mailed your return in, you'll need to amend to add the K-1 to your taxes.
