imputed retiree benefits

[bnimrod]

I am fully retired. My benefits are reported on a K1 (due to prior partnership) so this is excluded from self employment income. (fits IRC section 1402 (a)(10).

Will this still count as income and which version of turbotax should I use

[ThomasM125]

It depends on what the entries on the K-1 are as to whether it represents income for tax purposes. If you can clarify for us which boxes have entries in them we can help you better. You can start online with the free TurboTax and if you need to upgrade to enter your tax documents the program will upgrade automatically. You will likely need the Deluxe version of TurboTax to enter a schedule K-1 though.

[bnimrod]

Thank you. I will start on line with the delux version. The boxes which have data 4a, 4c, 13 

[ThomasM125]

Yes, you have guaranteed payments that will be considered income and will show on line 8 of your Form 1040, other income.