I'm an EPD unitholder. My K-1 has a negative capital account (-$7,856) but large nonrecourse liabilities ($41,434). I'm in Forms Mode and don't see any of ending basis information on the K-1 Partner Worksheet in Part II items J, K and L. Specifically I am missing ending partners share profit, loss, & capital (J), partners share of liabilities (K), and all information in the Partners Capital Account Analysis section (L) except for the beginning capital account.
How do I trigger the Step-by-Step interview to ask for this information so my 2026 carryover is correct?
Can it be entered in forms mode if necessary?
You'll need to sign in or create an account to connect with an expert.
If you did not indicate that it is a Publicly Traded Partnership, TurboTax may not add the questions in the sequence. You can add in Forms mode (if using Desktop/Download).
If you go back through the K-1 entry, make sure you have the PTP checked.
Yes I checked the box "this is a PTP" at the beginning of the interview so that is not why I am not being prompted.
I have been an EPD unitholder for several years. TT only brought over the 2024 beginning balances but did not prompt for ending balances...
I would prefer to have TT prompt for this information rather than me put it in the forms and have it not carried over to other forms or fields where it is required.
Can someone please help.
if you read my earlier reply, I already responded to someone else that Yes, I marked EPD as a PTP in a very interview question.
That is not the reason I am not being prompted.
I will resort to using AI to answer my questions.
TurboTax doesn't prompt for the Part II information for sections J, K, and L on Schedule K-1 (Form 1065). You will need to enter this information in Forms Mode. Note that you will need to update these sections each year you receive Schedule K-1.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
photography-studio-1331
New Member
cangelosi
New Member
Cat_c12
New Member
cprattod
New Member
lospastelesdemay
New Member