JotikaT2
Employee Tax Expert

Business & farm

As long as you have not filed your tax return yet, you can add the Schedule K-1 from your 1041 into your return in the federal interview section.

 

To report your Schedule K-1 in your personal tax return, log back into TurboTax.

  1. Select Income & Expenses.
  2. Scroll down to the section titled S-corps, Partnerships, and Trusts and select Start to the right of Schedule K-1.
  3. On the screen titled "Tell us about your Schedules K-1," select start to the right of Estates or Trusts (Form 1041).
  4. Proceed to enter the information from your Schedule K-1 into the program as prompted.

 

Please note, if you have a state return, you might need to make entries into the state interview section if any amounts on your state K-1 numbers differ from the federal amounts.

 

@rabeemer78 

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