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Level 2
posted Mar 11, 2021 4:21:06 PM

K1 Form 1041

I am using Turbo Tax Home and Business to prepare our 2020 Taxes. I have inputted the data from a K1 Form 1041 I received as an Estate Beneficiary. The program inputs this data as a business loss rather than in the personal income section, even though I originally put it in the personals section. I have attempted to manually change it back to the personal section but it doesn't allow it. How can I complete my taxes?

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1 Best answer
Level 15
Mar 11, 2021 5:02:40 PM

5 Replies
Level 15
Mar 11, 2021 4:37:54 PM

Did you enter it in the section shown in the screenshot below?

 

1.png

Level 2
Mar 11, 2021 4:48:22 PM

Yes I did.

Level 15
Mar 11, 2021 4:54:28 PM

Level 2
Mar 11, 2021 4:59:50 PM

If I remove this from the Business/Estate Income Section, where should this go?

Level 15
Mar 11, 2021 5:02:40 PM