Carl
Level 15

Investors & landlords

Normally, you would use TurboTax Business (different from Home & Business) to prepare the 1065 partnership return. The partnership would then issue each owner a K-1.

Once you received the K_1 you would use some other version of TurboTax to prepare your personal 1040 return and enter that K-1.

TurboTax Business just flat out can not handle your situation. So you really have no choice but to seek professional help for the 1065 Partnership return. Once you have the K-1's you "should" be able to use any personal version of TurboTax to prepare your personal 1040 return which would include those K-1's.

Take note that unless the IRS has changed the filing deadline for business returns, your 1065 was due on March 15th and is now late. The late filing penalty for a 1065 is $200 per person, per month. So as of now your penalty is $400 on that. Hopefully they've extended the deadline for business returns, as they have for personal returns.