PatriciaV
Expert Alumni

Investors & landlords

Yes, you may need to confirm the capital account entries for each member in Forms Mode.

 

Open your return and click the Forms icon in the TurboTax header.

  1. In the left column, find "Sch K-1 Wks" and click on the form name to open it in the large window.
    This form has an embedded scrollbar on the right to move between partners.
  2. Just beneath the partner information, you will see columns for Capital and Basis, including lines for Contributions.
  3. Edit the numbers as needed. If the form doesn't allow direct entry, right-click and choose Override.
  4. Scroll down within the worksheet and repeat steps 2-3 for each member.
  5. Confirm Part L is completed on the Schedule K-1 by finding "Schedule K-1 (Partner Name)" in the forms list. Click to open and scroll down to Part L. The entries you made should appear here.
  6. To return to working on your return, click Step-by-Step in the header.
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