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whanley123
New Member

K-1 Income not Appearing in Income Summary on Turbo Tax

Hi - I received income via a trust and have a 1041 k-1. I've input this income into Turbo Tax, but it is not appearing in the summary view. What might be the reason for this?

 

I'm hoping to avoid not reporting any income here as that seems like a mistake. Thanks for the help!

 

 

 

Screen Shot 2020-05-01 at 14.45.14.png

1 Best answer

Accepted Solutions
tagteam
Level 15

K-1 Income not Appearing in Income Summary on Turbo Tax

The program will distribute the items of income, deduction, etc. that you enter from your K-1 to the appropriate forms.

 

For example, interest income from Line 1 of your K-1 will most likely appear on your Schedule B.

View solution in original post

1 Reply
tagteam
Level 15

K-1 Income not Appearing in Income Summary on Turbo Tax

The program will distribute the items of income, deduction, etc. that you enter from your K-1 to the appropriate forms.

 

For example, interest income from Line 1 of your K-1 will most likely appear on your Schedule B.

View solution in original post

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