Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Returning Member
posted Mar 16, 2024 11:30:53 AM

I received a final k-1 how do I post that in my return?

The K-1 is final.  How do I input that?

0 3 867
3 Replies
Expert Alumni
Mar 17, 2024 8:56:53 AM

Did you sell your interest or did the entity dissolve? TurboTax will ask you to "Describe This Partnership." Check the box for "This partnership ended in 20XX." This answer refers to your participation in the partnership and not the partnership itself.

 

On the next pages, indicate how you disposed of your interest (why is this the final K-1?) and details for a sale and/or disposal of your interest. If you didn't sell your interest, then you may have a capital loss on the disposal of your investment.

Returning Member
Mar 18, 2024 7:24:30 PM

What I need to know is that on a K-1 received I posted a number, -1168, in box 17E, and I get a response that it's not within the upper or lower limits.  How do I fix that?

Expert Alumni
Mar 19, 2024 6:17:20 AM

What type of K-1 are you entering? Is Box 17 Code E for AMT Deductions or Recapture of a Credit? Both of these options should allow a negative number for Code E. Where do you see the error message?