Deductions & credits

Because the Schedule K-1s all are reporting box 14 income with code C, you need to mark the Nonfarm Optional method to calculate self-employment tax as Yes for each Schedule K-1.

You can get to the section to enter a Partnership K-1 in TurboTax Online by following these steps:

1. Sign in to your TurboTax
2. Open or continue  your return
   • Choose a section from the TurboTax menu and select Pick up where you left off
3. Using the search bar, type K-1 and select the Jump to link from the search results
   • Note: If the Jump to link doesn’t work, select the Federal tab, then under S-corps, Partnerships, and Trusts, select Wages & Income
   • Select Revisit or Start next to Schedule K-1
4. Answer Yes to Do you want to review Schedules K-1 or Q? and follow the prompts
5. This will take you to the Schedules K-1 or Q screen
6. Continue to the Nonfarm Optional Method screen and mark Yes
7. Repeat for the other two Schedules K-1
8. Then revisit the Child and Dependent Care Credit section to enter the details for the credit

To enter in TurboTax CD/Download:

1. Sign in to your TurboTax
2. Open or continue  your return
3. Using the search bar, type K-1 and select the Jump to link in the search results
4. This will take you to the Schedule K-1 and Schedule Q screen
   • Note: If the Jump to link doesn’t work, select Personal, then Personal Income
5. Select I’ll choose what I work on and continue until you reach the screen, Your 2022 Income Summary
6. Select Start next to Schedule K-1 under Business Investment and Estate/Trust Income
7. Answer Yes and follow the prompts
8. Continue to the Nonfarm Optional Method screen and mark Yes
9. Repeat for the other two Schedules K-1
10. Then revisit the Child and Dependent Care Credit section to enter the details for the credit

@Jan Man