@rogayers wrote:
I entered the income from a K-1 on the "Enter Box 1 Info" form for 2019. However, this income and other data does not show up in the Summary of K-1s ( I have 4 of them to report). I don't understand.
The K-1 summary screen typically shows "$0" because the entries from your K-1(s) are distributed to the appropriate schedules and forms on your return.
For example, interest and dividends would appear on Schedule B while capital gains would generally appear on Schedule D.
@rogayers wrote:
I entered the income from a K-1 on the "Enter Box 1 Info" form for 2019. However, this income and other data does not show up in the Summary of K-1s ( I have 4 of them to report). I don't understand.
The K-1 summary screen typically shows "$0" because the entries from your K-1(s) are distributed to the appropriate schedules and forms on your return.
For example, interest and dividends would appear on Schedule B while capital gains would generally appear on Schedule D.
I don’t understand any of it either. My friend said she had a friend that works for H&R Block and she would happily do this for me. I gave her all my information That she needed.
Ultimately, the program does the work for you; there is no need to be concerned about what is shown in the summary window.
I entered 2 K-1's om Turbo Tax Delux but the amounts are not reflected in the Income Summary
I have a k-1 that has ended. Where on turbo tax can you do a summary of the cost basis and distributions?
I have a K-1 to enter. Where do I do this? What version of TurboTax do I need?
To enter your K-1 information, you need to have Turbo Tax Premier or Self-employed/Home and Business for the software version. To enter in Turbo Tax online:
If in Turbo Tax Software
What if the K-1 form is for an investment in an IRA? Is this still a taxable event?