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Turbo tax won't let me post my K-1 info. How do I do it?

When I hit the Schedule K-1 revisit and doesn't let put info in
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1 Reply
JamesG1
Expert Alumni

Turbo tax won't let me post my K-1 info. How do I do it?

Are you in the correct version of TurboTax?  To report IRS Schedule K-1 information, TurboTax Online must be Premium version.

 

There are three different kinds of K-1’s that can be entered into TurboTax software.

 

  • Partnerships/LLCs (form 1065)
  • S corporations (form 1120S)
  • Estates and trusts (form 1041)

You should be able to read the top of the form and determine which K-1 that you will be entering.

 

Please follow these directions.

 

  • Down the left side of the screen, click on Federal.
  • Down the left side of the screen, click on Wages & Income.
  • Under Your income and expenses, scroll down to S-corps, Partnerships, and Trusts and click the down arrow to the right.
  • Select Start/Revisit to the right of Schedule K-1.
  • At the screen Tell us about your Schedule K-1, you tell the software which Schedule K-1 you received.
  • For several screens, you will be entering data right off the K-1 form.

 

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