If the partnership has a foreign address, you may use your own address for data entry on Schedule K-1. The most important items on the K-1 are the EIN and name of the business. The K-1 general information is not filed with your tax return; and the values from the K-1 flow to Schedule E and other respective forms. It is not a problem to enter another address.
To enter information from Schedule K-1 (1065) in the CD/Download versions of TurboTax, please follow these steps:
- Click on Federal Taxes > Wages & Income
- Under Business Items, click on the box next to Schedules K-1, Q.
- Click Yes on the next screen, Schedules K-1 or Q.
- On the Tell Us About Your Schedules K-1 screen. Click on the Start/Update box next to Partnerships/LLCs (Form 1065).
- If you have already entered K-1 information, you will see the Partnership/LLC K-1 Summary screen. Click Add Another K-1 to enter your information (or click on Edit to continue with the existing form entry).
- If you haven't yet started entering K-1 information, continue through the screens, entering the requested information.
[Edited | 3/26/2020 | 8:40 am PDT]
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