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still some confusion about k1

I have a fund through volatility shares that issues a k-1. This year for the first time they gave me the option to import the k-1 info into turbotax, which I did. 

 

I am having two issues, however: 

 

first, in the partnership pane, there are two entries for this same fund.  I am assuming maybe one was auto-generated from last year, since I also owned the fund last year? But I don't know which entry contains the data I just imported, and which one I can safely delete.  How do I figure this out?

 

Also, what is the easiest way I can verify that the data imported is correct? I don't know where to look to verify all the numbers. I thought maybe if I went through the inrerview process, I'd see the numbers already there, after the import. But this is not the case. I  do not see any data populated in the boxes already, turbotax is simply acting like no data was imported and asking me to fill it in again.

 

Is there somehow I can easily verify that the correct data has been imported into all the correct boxes?

 

 

 

 

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1 Reply
ThomasM125
Expert Alumni

still some confusion about k1

I suggest you pick the first one in the list and review the entries. Answer the questions in TurboTax by reference to the Schedule K-1 you have. If you find after a few screens that there is no information from the form there, then try the other entry and do the same. If you still find there is no information populated, you will have to complete the entries by reference to the K-1 schedule.

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