Please follow these steps to review whether a K-1 entry has been started on your tax return.
- Down the left side of the screen, click on Federal.
- Across the top of the screen, click on Wages & Income.
- Under Your income, scroll down to S-corp, Partnerships and Trusts. Click Show more.
- Click Edit / Add to the right of Schedule K-1.
- At the screen Tell us about your Schedule K-1, click Start / Update to the right of the K-1 you entered.
There are three different kinds of K-1’s that can be entered into TurboTax software.
- Partnerships/LLCs (form 1065)
- S corporations (form 1120S)
- Estates and trusts (form 1041)