Is form 8825 included with turbo tax premier or turbo tax self employed?

[Anita01 · Accepted solution]

Neither.  This is a form that gets attached to  Form 1065, Form 1065-B, or Form 1120S.  If you need to file any of those forms, you would have to be using TurboTax for Business, not he versions for an individual tax return.

See here:

https://www.irs.gov/pub/irs-access/f8825_accessible.pdf

[davidyal]

I'm facing a similar situation. I prepared all my K-1s (form 1065) in Turbotax Premier, but also have a Form 8825 and 4562. What options do I have at this point?

Do I need to buy Turbotax for Business and re-create all my K-1s there? Or can I file Premier as is with K-1s, and manually mail/file completed Forms 8825 and 4562?

This is a new situation for me. 

[tagteam]

@davidyal Did you see the answer in your other thread?

https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/this-year-is-the-firs...

You do not have to submit the 8825 and 4562 that you received from the LLC with your personal income tax return. Simply enter the information from the K-1 you received from the LLC. If the LLC did not send you a K-1, you need to contact a representative of the LLC.

[davidyal]

Thanks for the reply. I need to clarify my earlier post since re-reading it was inaccurate.

• I'm using Premier to file my personal and investments which includes several K-1s
• A seperate LLC I invest with decided to send me  8825 and 4562 this year in lieu of a K1.

Do I need to file two seperate times? What is the best way to proceed?

[tagteam]

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@davidyal wrote:

• I'm using Premier to file my personal and investments which includes several K-1s
• A seperate LLC I invest with decided to send me  8825 and 4562 this year in lieu of a K1.

---

That is simply not the proper procedure. You need your K-1 from the LLC, not a copy of the 8825 and 4562.

You need to contact the individual who is responsible for preparing the income tax return for the LLC. The LLC is required to issue a K-1 for your share of the income, deductions, gain, credits, et al.

[davidyal]

ok, this has been really helpful because I'm discovering new things about myself I missed earlier...

The LLC actually included this note alongside the forms 8825 and 4562: 

Rental activity (rental income & deductions) to report in each investor’s tax return (will
be reflected on Form 8825 but needs to be reported on Sch E if Individual Investor)

So, my question now is: what is the most straightforward way to do this? I have completed forms 8825 and 4562, and need to map them to the interview questions for Schedule E in my Premier return....

[tagteam]

Net rental income (or loss) is typically routed to Line 2 of Schedule K-1 (1065) so you can pretend you received a K-1 and enter the net figure in that manner.

Out of curiosity what did you mean when you wrote, "I have completed forms 8825 and 4562"? Were those forms not completed when you received them.

Whoever is responsible for preparing the tax returns for this LLC needs serious assistance (they clearly do not know what they are doing and that is a recipe for disaster).

[davidyal]

My English was written poorly there. It should have said " "I have received completed forms 8825 and 4562..."

The LLC accountant is quite thorough, however the documents prepared we mostly for businesses. Since I am an individual, I need to translate the completed forms 8825 and 4562 into something that fits in my Turbotax Premier.

[tagteam]

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@davidyal wrote:

My English was written poorly there. It should have said " "I have received completed forms 8825 and 4562..."

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I understand, but the procedure is still incorrect; you should have received a K-1, not Forms 8825 and 4562.

Regardless, do you know whether the forms were completed with just your share of the income, expenses, depreciation, et al, or are the figures on the forms for 100% of the partnership interests?