Where do I enter a Schedule K-1 that I received?

by TurboTax•5161• Updated 3 weeks ago

Schedule K-1 is a federal tax document used to report income from pass-through entities including partnerships, S corporations, estates, trusts, and LLCs.

Your Schedule K-1 may not arrive until March, April, or even later. This is because the pass-through entity needs to complete their tax return before they can distribute K-1s.

Recipients report the Schedule K-1 on their own personal tax returns. To enter your K-1 information, select your version of TurboTax and follow the instructions provided:

TurboTax Online

Open or continue your return.
Go to K-1.
On the Schedules K-1 or Q page, select Yes.
On the Did you receive any Schedules K-1? page, select Yes.
Select Start next to the type of Schedule K-1 form you have, and enter your information.

TurboTax Desktop

Open TurboTax and continue your return.
Select Search Topics. Search for and select K-1.
On the Schedules K-1 and Schedule Q screen, select Yes.
Select Start next to the type of Schedule K-1 form you have, and enter your information.