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posted Mar 29, 2023 11:44:43 PM

Schedule 1, line 24, option K-excess deductions on termination

How do I fill Schedule 1, line 24, option K-"Excess deductions of section 67(e) expenses from Schedule K-1? I am in the "Open form" section but can't enter a # as the space is NOT highlighted.

How can I populate option K? The magnifying glass does not appear.

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1 Replies
Expert Alumni
Mar 30, 2023 5:53:28 AM

Please do not use the FORMs mode to post your information.  The system is designed to make entries in the step-by-step mode.  Direct entries in the FORMs mode will negate our accuracy guaranty.

 

To post your K-1, and ultimately complete Schedule 1, line 24, return to Step by Step.

  1. Start at FEDERAL TAXES
  2. Select Wages & Income
  3. [I'll choose what I work on]
  4. Scroll down to Business Items
  5. Select Schedule K-1[Start/Update]
  6. Follow the interview, and post the K-1

Reminder: When you're in TurboTax, and you're not sure of something, select the (?) next to the topic for more information.

If this does not completely answer your question, please contact us again and provide some additional details.