Under Wages & Income, review the menu for Business Items. Click Start next to Schedules K-1, Q. Answer Yes to Do you want to review Schedules K-1 or Q?. Click Start next to Estates or trusts (Form 1041).
Enter the Name and Address on the following screen. Enter the ID Number from the K-1. Designate Domestic or Foreign Beneficiary. Designate the time period used. Enter the information as it pertains to the K-1 received, including the negative amount in box 14.
IRS Instructions Schedule K-1 Form 1041
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