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May 10, 2024
Question

How do I enter Schedule K-3 in TurboTax Business?

  • May 10, 2024
  • 1 reply
  • 0 views

I'm using TurboTax Business (Windows). 

The Schedule K-1 I've received has box 16 checked so I should also attach the Schedule K-3 when submitting the return. How do I enter Schedule K-3 in TurboTax Business? 

On the step "Identify Boxes that Have a Value", Box 16 is not an option there. 

1 reply

Employee
May 10, 2024

See https://www.irs.gov/instructions/i1065sk3#en_US_2023_publink100071711

 

If the partner receiving Schedule K-3 is itself a partnership, it'll use information from Schedule K-3 to complete Schedules K-3 to report to its partners.