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Business & farm
Return to the K-1 you entered and review your answers to the interview questions.
In TurboTax Online, go to Tax Tools in the left column >> Tools >> Topic Search. Type in "k-1", then click the topic in the list and then GO to go directly to the start of that section.
In TurboTax for desktop, use the search box in the upper right corner.
Choose the type of K-1 you need to review, then click Edit/Update beside the company name.
Note the page "Did you participate?" that refers to material participation (not passive) and a later page "Describe the Partnership" where you check the box for both passive losses and investment at-risk.
Be sure to follow the prompts until you return to the K-1 summary page.
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‎April 11, 2022
12:40 PM