topic I am trying to enter a K-1 which has been supplied on Form 1065-B. However, Turbotax appears to only support standard form 1065. Has anyone else run into this problem? in Business & farm

I am trying to enter a K-1 which has been supplied on Form 1065-B. However, Turbotax appears to only support standard form 1065. Has anyone else run into this problem?

jweber321 — Tue, 04 Jun 2019 19:26:33 GMT

If you would comment on the boxes that are filled in we c...

DianeW — Tue, 04 Jun 2019 19:26:35 GMT

If you would comment on the boxes that are filled in we can better assist you with the entry of the information.

Form 1065-B is the return an electing large partnership f...

IreneS — Tue, 04 Jun 2019 19:26:36 GMT

Form 1065-B is the return an electing large partnership files to report their income, gains, losses, deductions, etc.

Unfortunately, Schedule K-1 from Form 1065-B is not entered under the K-1 section of TurboTax.

Instead, each box on the K-1 is reported in the section of your return to which it applies. For instance, Box 5 (AMT Adjustment) is used to prepare Form 6251 Alternative Minimum Tax.

For guidance on where to report the activity from this K-1, refer to the instructions that came with the form. Or download another PDF copy here: Partner's Instructions for Schedule K-1 (Form 1065-B)

If you need additional help, let us know what boxes contain figures.

I have this same question. My form 1065-B only has amoun...

randomlongid — Tue, 04 Jun 2019 19:26:37 GMT

I have this same question.  My form 1065-B only has amounts in box 3 "Qualified dividends and box 4b "Net capital gain (loss) from other activities" (the amount is a loss).  There's also foreign tax credit info in box 9 K2-8 but the Total foreign taxes paid in K8(A) is only $3.

The instructions say the Box 3 Qualified Dividends amount is reported on Form 1040 lines 9a&b.  Should I enter that in the TurboTax Schedule B "Dividend Income Smart Worksheet" or should I create a dummy 1099-DIV for this in TurboTax?

The instructions say the Box 4b "Net capital gain (loss) from other activities" amount should be entered on Schedule D line 12.  That line is "Net long-term gain or loss ... from Schedule(s) K-1", but TurboTax will not let me enter a value directly on that line.  What do I do?  Do I need to create some other K-1 in TurboTax?  If so, how do the lines from Form 1065 map to Form 1065-B?

Hoping for help here... I wish TurboTax handled this.  BTW, I have TurboTax Home & Business.
Thanks...