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

Schedule K-1

laducad — Sun, 10 Feb 2019 21:26:23 GMT

Nothing is happening to my Federal Tax Refund when entering in my Schedule K-1 gain or loss using Turbo Tax Premier. The same thing happened to me last year using Turbo Tax. I received help last year but I guess I'm missing something again. Any help why my income is not being adjusted

Re: Schedule K-1

uncledudley — Sat, 14 Mar 2020 16:52:12 GMT

Can I enter just the net gain or loss, or must I enter all of the details? Every year I have a loss and does not change the amount of taxes due.

Re: Schedule K-1

KrisD15 — Sat, 14 Mar 2020 19:17:33 GMT

Please be sure to continue through the entire section entering the amounts in the boxes, answering the interview questions and entering the information from the additional K-1 information schedule.

Although you have a loss, the details should be entered because of the new and complicated regulations concerning the 199A Qualified Business Income Deduction and loss carry-forward.