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Level 1

Question

Form 1041 (Schedule K-1)

Forum|Forum|5 years ago
April 8, 2021
4 replies
16 views

I received this form with a final year excess deduction on termination. IRS says to report this as a write-in on Schedule 1 (Form 1040). How do I do that in TurboTax?

Deduction

Level 15

the K-1 will require you to use a higher version of online TurboTax. but basically, you type k-1 in search box (higher versions) then the jump to to get to the k-1 screen for estates and trusts. from there you enter the k-1 info exactly as it appears.

Mike9241

Level 2

What verison and higher is needed in turbo tax

Level 15

@waynehen wrote:

What verison and higher is needed in turbo tax

Using the TurboTax online editions you will need either the Premier or Self-Employed edition to enter the Schedule K-1.

Using the TurboTax desktop CD/Download editions, any edition can be used.