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
New Member
posted Oct 11, 2019 12:40:52 PM

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

0 6 1010
6 Replies
Level 15
Oct 11, 2019 12:45:29 PM

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.

Level 2
Jun 24, 2020 4:00:44 PM

I need to explain a certain treatment.

Expert Alumni
Jun 24, 2020 4:21:56 PM

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

Level 2
Jun 24, 2020 5:55:15 PM

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.

Level 15
Jun 24, 2020 5:58:05 PM

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

Level 2
Jun 24, 2020 6:11:20 PM

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