New Member

Spouse started a PA (S Corp) in 2016. She is is a Partner (Attorney) with a firm. We got the Schedule k-1 and now I have to prepare her corp return. How do I start?

New Member

Business & farm

If you mean the Partnership sends the k-1 to her S Corp instead of to her, then you would have to use Turbotax for Business to file an S Corp return, whose only source of income would, I assume, be the k-1 from the Partnership.  The S Corp would then produce a k-1 that would be entered in your personal joint return, as would the W-2 that pays a salary to your spouse.

TurboTax for Business is a separate product available only in CD/Download format for Windows.  It can be purchased here:

You can enter the k-1 in the Premier online version of Turbotax, or any version from Deluxe and above for the CD/Download version.

Having the Partnership producing income for the S Corp is a somewhat unusual business structure.  if you have not seen an attorney about the best business structure to use, you might want to do so.

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