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kimwendttt
Returning Member

Using Home & Business, where is the schedule K1 section?

I'm set up for auto-renew so I have the 2020 version of Home & Bus, except now that I'm in the Business section, there's no subsection asking for the schedule K1 info this year. It's only showing 1099 options. What happened? Do I have the wrong version, if so what should I be using? And how would that happen with auto-renewal since I input K1 in last year's Home & Business?

 

THANK YOU SO MUCH!!

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2 Replies

Using Home & Business, where is the schedule K1 section?

It's in the same place as last year.  It is under Personal not business.

 

To enter a K-1 go to

Federal Taxes Tab or Personal (Home & Business version)

Wages and Income

Then scroll way down to Business items

Schedules K-1, Q - Click the Start or Update button

 

Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S

 

kimwendttt
Returning Member

Using Home & Business, where is the schedule K1 section?

Thank you! I was confused when it also said no self-employment tax too... like wait, we do pay that!

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