There are three different kinds of K-1’s that can be entered into TurboTax software.
- Partnerships/LLCs (form 1065)
- S corporations (form 1120S)
- Estates and trusts (form 1041)
Please follow these steps to review whether a K-1 entry has been started on your tax return.
The entry can be deleted by clicking the trashcan delete button to the right of the entry at the Summary screen.
- Down the left side of the screen, click on Federal.
- Across the top of the screen, click on Income & expenses.
- Under Your income and expenses, scroll down to Schedule K-1 and click Edit/Add to the right.
- At the screen Tell us about your Schedule K-1, you tell the software which Schedule K-1 you received.
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