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TurboTax is not prompting for all information on my K-1

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?

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4 Replies
MaryK4
Expert Alumni

TurboTax is not prompting for all information on my K-1

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.  

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TurboTax is not prompting for all information on my K-1

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.

TurboTax is not prompting for all information on my K-1

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.

PatriciaV
Employee Tax Expert

TurboTax is not prompting for all information on my K-1

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.

 

  1. Open your return and click the Forms icon in the TurboTax header. 
  2. In the list of Forms in My Return on the left, scroll down and look for K-1 Partner (nameofpartnership)
  3. Click the form name to open it in the large window. 
  4. Scroll down to Part II and complete Sections J, K, and L.
  5. Click Step-by-Step in the header to return to the main screens.
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