No, you don't need to switch to a different TurboTax version. You can enter this information in TurboTax Self-Employed.
- Open your return and go to Federal >> Wages and Income >> S-corps, Partnerships, and Trusts >> Schedule K-1.
- Click Start, Yes, and Start to the right of "Estates or trusts (Form 1041)."
- Follow the prompts to enter the information from Form 1041 Schedule K-1.
The easiest way to find this section of TurboTax is to open your return and use the Search box (magnifying glass) at the top right side of the TurboTax header. Click on the magnifying glass, type in "K-1", hit Enter, and click on "jump to K-1" to go directly to beginning of this topic.
Or go to the left menu & choose Tax Tools >> Tools >> Topic Search. Type in "K-1", then click the topic in the list then Go to jump directly to the start of this section.
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