The income you enter from the K-1 is dispersed throughout your return by the program.
For example, interest and dividend income will appear on your 1040 (and also, possibly, on Schedule B).
if the PTP box is checked and there's a loss. it is not deductible in the current year.
Just adding to problem description -- K-1 data appears to be compete in the Forms. It is just absent in the Income Summary. Tax Due field was altered throughout the entry process suggesting that detail is intact. Also using Premier edition.
@rlbslb Please clarify - what boxes are used on your K-1 and what income did you receive from it?
I have the same issue using the on-line version. I enter the data and it doesn’t show up on the summary. The K-1 value from the previoous year is there...
I'm not sure what summary report you are looking at. You can look on your form 1040 to see if the income is reported there. It will appear in summary form on the 1040 form and detail will appear on the schedule 1 to 3:
To view your form 1040 and schedule 1 to 3:
I have the same issue. I was on the phone with turbotax for over an hour and they couldn't figure out why it wasn't showing up on the income summary.
The income summary is what you see on turbotax as you're filling out the income part of the program. The trust is showing up on the 1040 but not the income from it.
Your best option is to review your Form 1040 Schedule 1 Line 5 to confirm the income from Schedule K-1 is included on your return. The income summary page is not designed to reflect what is actually on your return; it's meant to track your progress.
If you're using TurboTax Online, see How do I preview my 1040?