PatriciaV
Employee Tax Expert

Business & farm

Schedule K-1 Part II Section L appears under your personal information on the left column of the form with the title "Partner's Capital Account Analysis."

 

To enter this in TurboTax Premier/Premium using step-by-step:

  1. Use the search box at the top right corner of the TurboTax header, type in "k-1" and hit Enter. Click on the "jump to k-1" link to go directly to that topic.
  2. Click Yes, then Start beside Partnerships/LLCs.
  3. Click Edit beside the K-1 you need to work on.
  4. On the page "Review your information," click No.
  5. Continue through the screens (update information as needed) to the page "Enter Capital Account Information" (shown in previous post).
  6. Enter the amounts shown on Schedule K-1 Part II Section L.

 

Your other option is to use Forms Mode, available only in TurboTax for Desktop.

 

  1. Open your return and click the Forms icon in the TurboTax header. 
  2. In the list of Forms in My Return on the left, find "K-1 Partner" for the partnership you need to work on.
  3. Click on the form name to open it in the large window. 
  4. The top section of this form is very similar to the actual K-1. You can manually enter information in any box highlighted in yellow.
  5. Click Step-by-Step in the header to return to the main screens.

@Thomas2023 

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