Can I add separate instructions to the K-1 partner letter?

susanwdavis — Sun, 28 Mar 2021 20:58:04 GMT

Re: Can I add separate instructions to the K-1 partner letter?

AmyC — Fri, 02 Apr 2021 22:04:32 GMT

Yes, it is common for K-1 to come with an attachment explaining it.

Re: Can I add separate instructions to the K-1 partner letter?

susanwdavis — Sat, 03 Apr 2021 01:07:55 GMT

How do I do that in the Turbo Tax program?

Re: Can I add separate instructions to the K-1 partner letter?

DawnC — Sat, 03 Apr 2021 01:30:47 GMT

You can't attach a document to your tax return. But TurboTax will ask about information from supplemental statements when you enter the K-1. It is common to have statements included with K-1s, so after you enter the form detail in TurboTax, you will be asked about supplemental information from statements referenced in Box 17 or Box 20.

Schedule K-1s are issued by pass-through entities (partnerships, S corporations, estates, trusts, and LLCs). These entities don't pay income tax on the profits and losses that are "passed through" to their partners, owners, shareholders, or beneficiaries on Schedule K-1. The recipients then report the K-1 on their own personal tax returns. TurboTax Online instructions:

Sign in and open your return by selecting Pick up where you left off under a section.
Search for K-1 and select the Jump to link at the top of the search results.
This will take you to the Schedules K-1 or Q screen.
Answer Yes and follow the prompts. You may be prompted to upgrade to Premier if you're not already using it.
We’ll ask some questions about your K-1, and then you’ll enter the data from the form.

CD/Download desktop instructions:

In your TurboTax program, search for K-1 and select the Jump to link in the search results.
- In Mac: Select the Federal Taxes tab, then Wages & Income. On the Income Summary screen, scroll down to Schedules K-1, Q, and select Start.
This will take you to the Schedule K-1 and Schedule Q screen.
Answer Yes and follow the prompts.
We’ll ask some questions about your K-1, and then you’ll enter the data from the form.

topic Can I add separate instructions to the K-1 partner letter? in Business & farm

Can I add separate instructions to the K-1 partner letter?

Re: Can I add separate instructions to the K-1 partner letter?

Re: Can I add separate instructions to the K-1 partner letter?

Re: Can I add separate instructions to the K-1 partner letter?