Irene2805
Expert Alumni

Business & farm

When you enter the information from your K-1, TurboTax will automatically flow the information to Schedule E, page 2.

 

You can enter expenses related to the K-1 in the K-1 entry interview.  To do this follow these steps:

  1. Click on Federal > Wages & Income
  2. In the Business Investment and Estate/Trust Income section click on the box next to Schedule K-1.
  3. Click Yes on the next screen, Did you receive any Schedules K-1?
  4. On the Tell Us About Your Schedules K-1 screen.  Click on the Start/Update box next to the type of entity that issued the K-1 (S-Corps, Partnerships, Trust/Estate).
  5. If you have already entered K-1 information, you will see a Summary screen.  Click Edit to continue with the existing form entry
  6. Continue through the screens until you reach Describe the Partnership.
  7. On this screen mark the box I am required to pay supplemental business expenses on behalf of this partnership/LLC for which I am not reimbursed. and click Continue.
  8. On the next screen, Unreimbursed Partnership Expenses, click the blue Yes box.
  9. Continue through the screens, entering any expenses incurred.

@FixinToFile

 

 

I'm not sure what you're asking.  As a general partner/operating manager you can't indicate in TurboTax that you are the Tax Matters partner?

@hinklebl