I am trying to enter different amounts for each partner's Section 754 allocation. The income is split equally but the Section 754 allocation needs to be divided on 3 of the 4 of the K1's, the last K1 should be zero. I called Turbo Tax Business help and she was unable to solve the problem.
I have read several other posts asking to do the same but none of the answers worked on the TurboTax 2024-25 desktop version.
You'll need to sign in or create an account to connect with an expert.
I've checked the box for special allocations. I entered the total amount on the 1065 but it automatically divides the allocation evenly. I need 3 members to have 33.5% and one to have zero. I haven't figured out how to change the amount on each K1. It doesn't allow me to type the amount on each K1.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
CrisPS
New Member
JacqueMunn
New Member
capriga
New Member
OliveB
New Member
nbgoku
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.