Investors & landlords

Your Schedule K-1 entry is reported on Schedule E within your individual tax return.  It seems you may have entered your Section 199A Ordinary Income (loss) on the Royalty Income (loss) line while entering your K-1.

You can get to the section to enter a Schedule K-1 in TurboTax Online by following these steps:

1. Sign in to your TurboTax
2. Open or continue  your return
   • Choose a section from the TurboTax menu and select Pick up where you left off
3. Using the search bar, type K-1 and select the Jump to link from the search results
   • Note: If the Jump to link doesn’t work, select the Federal tab, then under S-corps, Partnerships, and Trusts, select Wages & Income
   • Select Revisit or Start next to Schedule K-1
4. Answer Yes to Do you want to review Schedules K-1 or Q? and follow the prompts
5. This will take you to the Schedules K-1 or Q screen
6. Go through your entries until you get to the We need some information about your 199A income screen and check your entry for XX has business income (loss)

To enter in TurboTax CD/Download:

1. Sign in to your TurboTax
2. Open or continue  your return
3. Using the search bar, type K-1 and select the Jump to link in the search results
4. This will take you to the Schedule K-1 and Schedule Q screen
   • Note: If the Jump to link doesn’t work, select Personal, then Personal Income
5. Select I’ll choose what I work on and continue until you reach the screen, Your 2022 Income Summary
6. Select Start next to Schedule K-1 under Business Investment and Estate/Trust Income
7. Answer Yes and follow the prompts
8. Go through your entries until you get to the We need some information about your 199A income screen and check your entry for XX has business income (loss)