topic Form 1041, Schedule K-1 in Get your taxes done using TurboTax

Form 1041, Schedule K-1

johnhellmann1 — Mon, 17 Mar 2025 23:42:38 GMT

My wife just received Form 1041 Schedule K-1form from her mom's estate in NY and we are located in NC.

Part III is showing Interest Income - $21, Ordinary dividends $154, Qualified Dividends $154. Line 11 (D) $1642, Line 14 (E) $175 STMT. We already filed our taxes using Turbo Tax Deluxe. I'm assuming we need to report this on our taxes and would like to know what my options are.

Thank you,

John

Re: Form 1041, Schedule K-1

DavidD66 — Tue, 18 Mar 2025 00:00:06 GMT

You need to file an amended return to report the income on the K-1. The fact that the estate is in New York and you are in North Carolina will have no impact since there is no New York source income (like a rental property or a business located in New York). Make sure you have received your refund from your original return (if you were expecting one) before amending return.

If you used TurboTax Online, simply log in to your account and select “Amend a return that was filed and accepted.” If you used our CD/download product, sign back into your return and select “Amend a filed return.”

For more information see How to File an Amended Tax Return with the IRS

Re: Form 1041, Schedule K-1

johnhellmann1 — Thu, 20 Mar 2025 01:24:58 GMT

DavidD66,

Thank you

Since I filed my taxes using Turbo Tax Deluxe, I'm guessing from what I'm reading, the Deluxe version does not support Form 1041 Schedule K-1. If it does, can you explain how to add this form? If not, do I need to purchase the business edition and start my taxes all over. They have been accepted already from the IRS.

Thank you,

John

Re: Form 1041, Schedule K-1

johnhellmann1 — Thu, 20 Mar 2025 02:02:14 GMT

DavidD66,

You can cancel my last request, I found the solution and was able to add the information and re-filed.

John