@nzamaray wrote:
Thank you for the response. I have both Home & Business and Business software. Where in the individual return should I insert losses from K-1?
When you prepare your personal tax return, there is a separate page for K-1 statements. (Look on the main page under Income, for "other common types of income.")
Remember you must prepare the 1065 and the K-1s first, then each owner adds the K-1 to their personal tax return. If you no longer have a schedule C business, you can use Turbotax Deluxe or Premier to enter the K-1, you don't need to pay the higher cost of the Home & Business version.
Also note that if you changed your business from a sole proprietorship or single member LLC to a multi-member LLC, your business needs to apply for a new EIN.
