multiple K1s: can I import more than one K-1 into turbo tax home and business?

[carraed]

I am uncertain why the answer to this question is hard to find, but I wanting to know if I can import more than one k-1 into Turbo tax home and business for 2022.

[Mike9241 · Accepted solution]

is the k-1 available to import?  - usually a .txf file like for most publicly traded partnerships which you must first download to your computer, you must change the name because all download a "turbotax.txf" which means the current one overwrites the previous one.  so you'll need a unique .txf file for each. again this depends on the ability to get a .txf file for the k-1.  ALSO WARNING CHECK THE IMPORT AGAINST THE ACTUAL K-1. CERTAIN ITEMS NEED ADDITIONAL WORK  OR DO NOT IMPORT.

anyway once download      

click on the file tab...........

then import..................

then from accounting software.............................

select other accounting software (TXF file) ......

the click continue...................

then select the one to import - MUST BE DONE ONE AT A TIME.........................

then import now......................

sadly from what i can tell you have to go thru all these steps again to import the next one.

[carraed]

unfortunately, yes last year Turbo tax support told me that i could only import one k1 and it didn't matter if I rename the file. The 2nd import would delete the first one imported.

[carraed]

Yes, it's available, but why doesn't Turbotax have clear instructions available on how to import. Furthermore, I see now after doing my own research on how to download the k1s.  However, Turbo tax fails to match the 2022 downloaded K1 to the prior year K1 carryforward data. Therefore, the download feature is worthless, because you have to manually enter the prior year carryover data to the newly downloaded K1. For some reason, turbo tax creates a new K1 instead adding the data to the existing K1 carrying over from prior year.  Therefore, it becomes again very time-consuming exercise. I am very disappointed by the lack of effort by turbo tax to invest in improving their software and the lack of instructions. Another year wasted with dealing with this issue. :(

[CarissaM]

Turbo Tax only allows for the import of one K1, otherwise it will override the previous data with any new K1. If you are still having issues, it would be best to click here and contact us by phone so we can better assist you. @carraed