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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

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?

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 

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?

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

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