The easiest way to enter the partners' share of qualified nonrecourse financing is to enter the amounts on the Schedule K in Forms Mode. Please follow these steps:
- Go to Forms Mode by clicking the Forms icon in the top right of the blue bar.
- In the Forms in My Return list, click Form 1065, p4-5. The form will open on the screen to the right.
- Scroll down to the Partners' Liabilities Smart Worksheet (past Schedule L and just before Schedule M-1).
- Enter the total amounts of Qualified Nonrecourse Financing in the beginning and ending balance columns.
- TurboTax will enter the amounts on the individual partners' K-1s according to the their percentage in the partnership.
- To return to the interview, click on the Step-By-Step icon in the top right of the blue bar.
