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elinfin
Returning Member

Schedule K-1 Form 1065

HELP

I am currently using the Deluxe Edition of Turbo Tax .   My husband just received a Schedule K-1 (form 1065).   He is a partner for this publicly owned company since he owns some units in 2023?  He has not taken distributions or sold any units.   I have been trying to read the instructions on the IRS website to see if I need to report this, however, it's very confusing to me.  I have no idea what to do with this form.

Here are some of the items on the form:

Part III:

Box 1: -188

Box 9a: 0

Box 10: -1

Box 13: A, 0 & K,0

Box 17: A, 4

Box 19: A, 160 

Box 20: A, 0 ; N, 47; V, -191

 

Do I need to report these items on my federal return?  If so, 

  •  What section is this under?
  • Can I still use the Deluxe edition to report this?

I really appreciate any assistance on this.

Thank you.

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2 Replies
PatriciaV
Employee Tax Expert

Schedule K-1 Form 1065

Yes, if you are using TurboTax Deluxe installed on your computer (not in a browser), you can report Schedule K-1 under Investment Income. If you're logging into TurboTax through the website, you'll need to upgrade to TurboTax Premium before you enter a K-1. 

 

Follow the interview and answer all questions as best you can. The K-1 should have all the information you need.

 

To enter your K-1 information, follow these instructions: Where do I enter a Schedule K-1 that I received?

 

See also: How do I upgrade or switch to a higher version of TurboTax Online?

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elinfin
Returning Member

Schedule K-1 Form 1065

Found it. 

Thank you Ms. Patricia!!

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