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Schedule K-1 on a personal business?
I'm using TurboTax Home and Business, and I entered my wife's tutoring business (a LLC) income in the Business Income & Expenses section. I know we need to create and submit a Schedule K-1 (Form 1065), but what I am unclear on is if we also need to enter the Schedule K-1 information from her business in the Personal Income section, under Business Investments and Estate/Trust Income? I fear that doing so will double count her business income. Thanks for any insights you all may have!!
David
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‎February 1, 2020
4:11 PM