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: