The steps are printed below for your convenience. This information is from our awesome Tax Expert @PatriciaV and may provide the steps needed to enter the beginning capital account for each K-1. Click here to view the information.
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Open your return and click the Forms icon in the TurboTax upper right.
- In the left column, find "Sch K-1 Wks" and click on the form name to open it in the large window.
- Just beneath the partner information, you will see columns for Capital and Basis, starting with "Beginning of Year."
- Edit the numbers as needed. (right click then override)
- Scroll down within the worksheet and repeat steps 2-3 for each member.
- To return to working on your return, click Step-by-Step in the header.
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