On my K-1 notification it says I can download the info direct to turbotax. How do I go about doing that?

[Mike9241]

download from the k-1 website a file with extension .txf   best would be to your desktop so you can find it

save as XYZ  so you would see the file as xyz.txf

open Turbotax and your return

go to the file tab

select import from accounting software

select other financial software .txf file

continue

browse for file 

select from the desktop then the file

highlight file

open

import now

import now (yes twice)

done

the reason to rename "turbotax.txf" to another name is if you have multiple k-1's if you import one "Turbot,txf" file and then a second with the same name it will overwrite the first import

I'm using desktop deluxe and this drove me crazy for a while. because I thought with different names and ein's with the k-1's they would each show up separately. didn't happen until i used different names for each .txf file.  a bug?

[VolvoGirl · Accepted solution]

My notes say.....

You can only import a K-1 to the Desktop CD/Download Software, not to Online version and if you can get a .txf file for it and in the right format.   Apparently you can only import K-1s for MLPs and not Trusts or Estates.   You can not import a K-1 from Turbo Tax Business Program.

[njh2oskier]

 From another reply I found that the online version does not support this. Thank you for your time in this matter.

[njh2oskier]

Thank you for easing my frustration. Turbo tax not so much for making different versions for CD and online. Have a nice day.