topic Re: final K-1 in Get your taxes done using TurboTax

final K-1

KXBG4746 — Tue, 24 Feb 2026 05:13:21 GMT

I already entered my final schedule K-1 to turbo tax. The capital gain is one-time distribution (ending capital is 0). I checked the box for this partnership (not PTP) ended during 2022. But on my tax return 1040, the final K-1 box is not checked, and partnership ended in 2022 is not checked either. How do I make the box for final K-1 checked?

Re: final K-1

Mike9241 — Thu, 13 Apr 2023 05:35:51 GMT

Federal schedule E has no box to indicate final k-1so I don't know where you are looking to see such a box

Re: final K-1

KXBG4746 — Thu, 13 Apr 2023 13:22:39 GMT

So appreciate for your reply. It is not on federal schedule E. It is on the form call partner's share of income, credits, Deductions, etc. which for my records. Under FINAL K-1 AND AMENDED K-1 CHECKBOXES, the final K-1 box is not checked.

Re: final K-1

AliciaP1 — Fri, 14 Apr 2023 19:09:10 GMT

You need to go back through your Schedule K-1 entry and mark that the partnership ended in 2022 on the Describe the Partnership screen.

You can get to the section to enter a Partnership K-1 in TurboTax Online by following these steps:

Sign in to your TurboTax
Open or continue your return
- Choose a section from the TurboTax menu and select Pick up where you left off
Using the search bar, type K-1 and select the Jump to link from the search results
- Note: If the Jump to link doesn’t work, select the Federal tab, then under S-corps, Partnerships, and Trusts, select Wages & Income
- Select Revisit or Start next to Schedule K-1
Answer Yes to Do you want to review Schedules K-1 or Q? and follow the prompts
This will take you to the Schedules K-1 or Q screen
Continue to the Describe the Partnership screen and mark This partnership ended in 2022
Verify/enter the rest of your data from the form

To enter in TurboTax CD/Download:

Sign in to your TurboTax
Open or continue your return
Using the search bar, type K-1 and select the Jump to link in the search results
This will take you to the Schedule K-1 and Schedule Q screen
- Note: If the Jump to link doesn’t work, select Personal, then Personal Income
Select I’ll choose what I work on and continue until you reach the screen, Your 2022 Income Summary
Select Start next to Schedule K-1 under Business Investment and Estate/Trust Income
Answer Yes and follow the prompts
Continue to the Describe the Partnership screen and mark This partnership ended in 2022
Verify/enter the rest of your data from the form

@KXBG4746

Re: final K-1

KXBG4746 — Fri, 14 Apr 2023 20:12:03 GMT

Big help! After reentering the K-1, I noticed I have to select "liquidation of the partnership interest" which led me to the final K-1, since it is one-time distribution and the partnership discontinued during 2022.