Have a schedule K-1, which I've received every year from farm income, but this during this tax year the farm was sold. Would like someone to go through it with me.

abbottsaw · ‎February 14, 2020

Want to make sure it and the sale info is put in correct.

DavidS127 · ‎February 14, 2020

The K-1 get entered as in previous years. During the entry of the K-1, you will get a question asking if you "disposed of a portion of my interest during 2019". When you select that box, TurboTax will walk you through the sale.

To enter the K-1, click the "magnifying glass Search" icon, enter "k-1" in the search window and press return or enter, and then click on the "Jump to k-1" link to begin entry of the Schedule K-1 you received from your farm.

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Have a schedule K-1, which I've received every year from farm income, but this during this tax year the farm was sold. Would like someone to go through it with me.