- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
TurboTax Business will complete the Schedules K-1 from the information you enter for the partnership.
You will need to enter information for the partners/members, including their capital balances, which should be an equitable split of the bank balance. You won't actually report the bank balance on the tax return.
This is a fairly simple LLC return. But if you need individual help, consider signing up for TurboTax Assisted Business, which provides unlimited expert help as you work on your return.
**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"
‎February 19, 2024
1:02 PM