Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
pv1203
New Member

Can I attach footnotes to Schedule K-1 when e-filing with TurboTax Premier online version?

 
6 Replies
tagteam
Level 15

Can I attach footnotes to Schedule K-1 when e-filing with TurboTax Premier online version?

What type of footnotes do you need to attach? 

 

Generally, the information you enter from the K-1(s) you receive are dispersed throughout your personal income tax return; the K-1, itself, does not get filed with your return - you retain it for your records.

mrKlein
Level 2

Can I attach footnotes to Schedule K-1 when e-filing with TurboTax Premier online version?

I need to explain a certain treatment.

DawnC
Expert Alumni

Can I attach footnotes to Schedule K-1 when e-filing with TurboTax Premier online version?

No, you cannot add any addendum if you intend on electronically filing.  If you file by mail, you can include additional documents, but this is NOT recommended.   What do you need to explain?    If the IRS wants further information, they will request it.    @mrKlein

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
mrKlein
Level 2

Can I attach footnotes to Schedule K-1 when e-filing with TurboTax Premier online version?

Turbo Tax does not support Self charged interest so I wanted to point out what I did to handle it for purposes of full disclosure.

Critter
Level 15

Can I attach footnotes to Schedule K-1 when e-filing with TurboTax Premier online version?

Self charged interest ???   You charged yourself for a loan to yourself ?   Please explain further.

mrKlein
Level 2

Can I attach footnotes to Schedule K-1 when e-filing with TurboTax Premier online version?

Self charged interest is interest received or paid by a pass through entity in which you have an ownership interest.  Refer to 1.469.

Dynamic AdsDynamic Ads
Privacy Settings
v