- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
You are correct. The information reported on Schedule K-1 shouldn't need to be added to any other section of TurboTax. It appears your business vehicle is considered an asset of the LLC (or S-Corp) and all expenses would flow through the K-1.
See this article for more info: Where do I enter a Schedule K-1 that I received?
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 23, 2025
8:38 AM