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Level 3
posted May 2, 2023 3:23:21 PM

Where on Turbo Tax do I file individual K-1 forms from Brokerages for Funds, and do I have to pay prior to filing for Turbo Tax chat and professional help?

Title pretty much says it all. I have got about 4 K-1 forms from securities (ETFs) I traded in for 2022. I did not know I got these from individual brokerages. Do I get double taxed if I had gains on these trades along with the brokerages I bout them through and the 1099s. So if I bought a security that gives a K-1 form to me am I taxed on that and the gain that is counted in the brokerage itself on the 1099 I get from them for capital gains taxes?

 

Also, where online are these filed in Turbo Tax. What do I select on the main income page to input them? Do I have to input them?

 

Finally, if I am going to file through Turbo Tax do I have to pay first to get the online professional chatting option and phone assistance option to file?

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2 Replies
Level 15
May 2, 2023 7:11:52 PM

If the gain or loss shown on your K-1 is already on your Form 8949, don't enter the amounts a second time.

 

@PJhiker 

Level 3
May 3, 2023 3:50:50 AM

Is the 8949 the section where the transactions from the brokerage automatically upload to Turbo Tax when I enter the 1099 from the brokerage?