Form 1065 K-1 Part III box 4c

Box 4c of the K-1 is simply the total guaranteed payments, the sum of boxes 4a and 4b.  You do not have to enter this figure in the interview.  TurboTax will do the math and the total will appear on box 4c of the actual K-1 form.

You can see this by going into Forms Mode:

1. Go into Forms Mode by clicking on the Forms icon in the top right of the blue bar. 
2. In the Forms in My Return list on the left, click on K-1 partner (partnership name).
3. The form will open on the screen to the right.
4. You will see that box 4c is populated with the total guaranteed payments.  [See screenshot below.]
5. To return to the interview, click on the Step-By-Step icon in the top right of the blue bar.  

Thank you so much for your quick response!!!!! I LOVE Turbo Tax and the support you all give to us that want to continue to learn the complex IRS taxation system. I have learned much from your system and reading IRA Publications as boring as they are.  Have an Aloha Day and THANK YOU for ALL you do!!!

4a and 4b are not adding up for me.  Anyone else having this problem?  I tried re-downloading TurboTax, but the problem continues.  See below.  TurboTax will not let me make changes manually since 4c is in purple.  Any thoughts?  

The purple shading means "This information has supporting details". So, it appears to me that somehow additional information was entered related to box 4c that "zeroed out" the 4a and 4b entries you made.

If you are using the Download/CD version of TurboTax, go to Forms mode, find the K-1 Partner form in the left column, click on it and it will open in the window.  Find the box 4c and click the + next to the box to open the supporting statement.

If you are using TurboTax Online, you may have to delete the K-1 and re-enter it to "purge" whatever found its way into that supporting statement.