SCHEDULE K-1

[AZORMM2]

What do I need to do with a Schedule K-1 that just came to me from Charles Schwab monies?  never had this before and dont know what to do with it.  still doing my taxes on turbo tax

[CesarJ]

If you received a Schedule K-1 from Charles Schwab, it means you have income, deductions, or credits from a pass-through entity like a partnership, S corporation, or trust related to your Schwab investments.

In TurboTax Online, to enter this K-1, go to the Wages & Income section and find the Schedules K-1 or Q page. Select Yes to indicate you received a K-1. Then choose the type of Schedule K-1 (partnership, S corporation, or trust) that matches your form from Charles Schwab.

Follow the prompts to enter the details exactly as shown on your Schedule K-1. Carefully enter the codes and amounts from Part III (lines 1-20), paying close attention to Box 20 QBI information. This will ensure income and deductions are reported correctly on your tax return.

[AZORMM2]

thank you.  i will try that and see what happens.