Are there known issues with K1s? I entered Schedule K1 information into TurboTax premier online but it's showing up as $0.00 in summary and just blank in the review.

[tagteam]

"...it's showing up as $0.00 in summary"

That is because the program distributes the figures you enter from your K-1 to the appropriate lines on your income tax form(s) and schedule(s). 

For example, if your K-1 shows $100 in interest income and $200 in dividend income, you will see $0 in the K-1 column, $200 in the Dividends on 1099-DIV column, and $100 in the Interest on 1099-INT column.

[mschoenfelder]

I spent an hour on the phone with Tier 2/3 on this issue.  Here's the deal.  The K-1 information is indeed distributed to the correct lines in form 1040.  I added up the numbers with pencil and paper to verify their accuracy.  But that is not my complaint.  I assert that the "Your Income" summary on the "Let's get the details on your 2020 income..." web page should show the amounts from the K-1.  That page shows the amounts of my 1099-INT and 1099-DIV even though they are "distributed across the forms", so therefore that page should also show the K-1 summary.

In years prior to 2029, the summary showed the K-1 results.  I think it broke in 2020.  I think this is also the reason that TurboTax could not remember that I had K-1 from last year and made me enter the details again.

I tried in vain to get the Tier 3 to understand that this is a user interface error and not a tax form error.  They kept telling me (via the Tier 1) that the K-1 data is distributed onto the forms.  Yes, the IRS forms. But not the TurboTax interface.  They also tried to convince me that the K-1 values were included in the 1099-DIV summary, but, no, the 1099-DIV summary shows the summary of the 1099-DIVs not the K-1 (and the addition was incorrect, but that is a different bug.)

In other words, this statement from the message above is wrong: "For example, if your K-1 shows $100 in interest income and $200 in dividend income, you will see $0 in the K-1 column, $200 in the Dividends on 1099-DIV column, and $100 in the Interest on 1099-INT column.".  My taxes are not complicated. It was easy to verify that this statement is incorrect.

This bug is easy to reproduce.  My sister had the same issue and erased all her inputs to see if she could make the problem go away.  That didn't help.  Neither does deleting the K-1 and re-entering it.

My expectation is that the Schedule K-1 summary data (see my photo) should show me the totals from the K-1 form(s) from this year and last year, just like it does for every other source of income.  This is clearly a bug.  Please report this issue to the programmers.

Should not be $0.00 when the K-1 has non-zero dividends

[mschoenfelder]

I see the OP reported this issue in 2019, so I was mistaken about when the problem started.  This bug has been around since at least 2019.  I am 99% sure it worked correctly before that.

[MarkV2022]

Yeah, it's this kind of error that will just have me pay an accountant next year - wish it could be this year!

It's complicated enough without the software trying to outsmart you.  It's not like the user is adding up all the items in the column.   The items are for information and showing a line as $0 when the user knows there is income from it is baffling stupid.