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After you file
all estate/trust K-1s are entered in the same section regardless of business or inheritance.
before amending you need to show that you received your refund or paid the balance due
payment should be on line 16
refund on line 18
don't know the amount of income reported on k-1 but that will increase your tax liability by an amount depending on what tax bracket the income falls into. For example, if it's $1,000 and you're in the 22% tax bracket you would owe $220. Because of the complex tax laws other results are possible
if you had a balance due for 2022, Turbotax does not assume it was paid so it needs to be entered.
‎April 29, 2024
6:57 PM