entering a K-1 with a sale of business

firedoc2 — Tue, 31 Mar 2020 20:46:43 GMT

I am using home and business, I cant get any help entering the K-1 information along with the sale of business information. I have numbers that don't match with the forms. I need help

Re: entering a K-1 with a sale of business

DaveF1006 — Tue, 31 Mar 2020 21:23:03 GMT

To report the sale of your business:

Go into business income and expenses and edit your business.
Under "Tell us about your business", check the box that says I sold (or disposed of) my business in 2017.
TurboTax will walk you through entering the information to report the sale of the business.

As far as the K1, if you entered everything correctly that is on the K1, then there may be income limitations that are causing a mismatch in numbers. Since i can't see your screen, you may wish to contact a specialist that can work through that section of the return with you. The specialists can look at your return and forms to discover why the numbers are different on the K1 and the worksheets.

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entering a K-1 with a sale of business

Re: entering a K-1 with a sale of business