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fredwbj
New Member

In TT Premium Business Summary, Business, Oil and Gas, Edit does not get me K1 to enter info

Instead Describe Your Business is displayed 

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1 Best answer

Accepted Solutions
PatriciaV
Expert Alumni

In TT Premium Business Summary, Business, Oil and Gas, Edit does not get me K1 to enter info

TurboTax Premier is used to create a personal tax return (Form 1040). This version does not produce Schedule K-1. For that, you would need to create a business return using TurboTax Business.

However, if you need to enter a Schedule K-1 that you received from an investment, you will find that under Federal Taxes >> Business Items >> Schedules K-1 >> Start/Update. Or search on "schedule k-1" and use the jump-to link to go directly to that section of TurboTax.

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1 Reply
PatriciaV
Expert Alumni

In TT Premium Business Summary, Business, Oil and Gas, Edit does not get me K1 to enter info

TurboTax Premier is used to create a personal tax return (Form 1040). This version does not produce Schedule K-1. For that, you would need to create a business return using TurboTax Business.

However, if you need to enter a Schedule K-1 that you received from an investment, you will find that under Federal Taxes >> Business Items >> Schedules K-1 >> Start/Update. Or search on "schedule k-1" and use the jump-to link to go directly to that section of TurboTax.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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