if it's a PTP Publicly traded partnership) box D of part I will be checked. if you're asking about Turbotax what version are you using. for online you'll need premier version for desktop any will do.
under wages & income, scroll down to business items. click on "start" or "update" on the line that says schedules K-1.
click "start" or "update" on the line that sys "Partnerships/ LLCs)
if the partnership name isn't there click on "add/add another" or "update"
enter name, ID #, and address if needed click "continue"
on next page choose "the type of partner" if it's owned by a retirement plan nothing should be enter on your 1040. the trustee may have to file form 990T so will need the k-1. if this is not the case click "continue"
next page for a PTP check the LLC member box and the click "continue"
next page check "domestic" of "foreign" and click "continue"
continue on to following pages (for example nothing needs to be enter on the percentage share page, liabilities page. or capital account page because they're not used by Turbotax
you eventually arrive at the "describe the partnership". The first line should be checked if it's a PTP.
do you know how to enter any ordinary gain on disposition, if any, that' would be reported in box 20AB of k-1 and on the supplemental sales schedule and how to enter the correct tax basis on form8949 (it's not on the broker's statement)
