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Donaldquackers
New Member

k1 problem

I am using tt home and business.  I entered my k1 info in the business investment and estate trust area.  I answered all the questions and entered the income amount for line 4a.  Then ttt takes me to a summary of k1, which doesn't have an income amount.  What am I doing wrong?

 

15 Replies
NCperson
Level 15

k1 problem

Not sure I am following what you mean by an’income amount’

The K1 information flows directly to Form 1040. Did you look on schedule D for the line 4a - capital gains amount?
Donaldquackers
New Member

k1 problem

Thank you!.. It does show on schedule D.

CaptLefty
New Member

k1 problem

An accountant does the trust taxes which sends me a K-1   Which TT is appropriate for our joint taxes?  For a MAC

CaptLefty
New Member

k1 problem

I have  no responsibilities for doing the trust taxes--done by an accountant.  I get sent a K1---which TT do I need?

DavidD66
Employee Tax Expert

k1 problem

If you use TurboTax Online, you will need to use the Premier version.  If you choose to use the Desktop version of TurboTax you again will want to use the Premier version.  For additional information see TurboTax Online Products Comparison and TurboTax Desktop Products Comparison

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uumann
New Member

k1 problem

the k-1 amounts i entered don't show up in income stream

LindaB1993
Expert Alumni

k1 problem

Often, you may not see the income from the K-1 on the income summary landing page.  However, since there may be different categories of income, it will flow to the appropriate schedules and Form 1040.  You may check the Tax Summary and also view the Form 1040.

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Retired_eng
Level 2

k1 problem

TT has several bugs in handling K-1s.  If you had the same K-1 last year and address info is still correct you have to still say "No" it is not to get you to where you can enter changes in your capital account.  There are several issues with the handling of the capital gains as well.

barbgrote
Level 1

k1 problem

I am having the same trouble with K1 income from a trust K1. I have deleted the k1 and re-entered all the trust information. The income still does not flow through to Schedule E or the 1040-SR. I have been on line with tech support for almost 6 hrs so far with no resolution.

KrisD15
Employee Tax Expert

k1 problem

Are you also entering the statement that accompanied the K-1? 

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barbgrote
Level 1

k1 problem

Yes: the trust name, address, ein, and box 14 code E 

KathrynG3
Expert Alumni

k1 problem

I recommend the following steps to get past this:

  • deleting this Schedule K-1,
  • checking for updates via the main menu, Options>Check for Updates and
  • re-adding this Schedule K-1.

FYI, for Box 14 Code E, check if you have any amount on Form 4952, line 4a.

mansamusa
New Member

k1 problem

i need help with my taxes

 

CatinaT1
Expert Alumni

k1 problem

Do you have a specific question?

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