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Level 2

Question

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

Forum|Forum|5 years ago
April 19, 2021
1 reply
1 view

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!!

Level 15

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

kimwendtttAuthor

Level 2

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