You only input your K-1 received from the S-Corp into your personal return. The other schedules on your 1120S populate the K-1 according to the ownership of the company.
To enter your K-1 into TurboTax please follow these steps:
- Sign in and open your return by selecting Pick up where you left off under a section.
- Search for K-1 and select the Jump to link at the top of the search results.
- This will take you to the Schedules K-1 or Q screen.
- Answer Yes and follow the prompts. You may be prompted to upgrade to Premier, if you're not already using it.
- We’ll ask some questions about your K-1, and then you’ll enter the data from the form.
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