- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Where do I add the ordinary income declared in form 8453-PE for my partnership
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
Form 8453-PE does not go on your tax return. You should receive a Schedule K-1 from the partnership. That's the form to plug into your personal income tax return. Schedule K-1 divides the income, expenses, deductions and credits for each partner.
To input your K-1: Where do I enter a K-1 that I received? On the screen Tell Us About Your Schedules K-1, choose Partnership/ LLC (Form 1065). Match the boxes and codes from your K-1 with the boxes and codes in TurboTax and the information will go to the right place.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
To expand on @SundayInSalem comments, it appears, based on the limited facts, that you have someone preparing the partnership return.
If the assumption is correct, this individual will need your signature on the form 8453-PE in order to allow them to electronically file the partnership return (form 1065).
This form (8453-PE) needs to be signed and dated and returned to the preparer.
As noted in a previous comment, you will then receive a schedule K-1 with the necessary information to input into TT.
Also keep in mind the date of replies, as tax law changes.