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March 2, 2025
Question

How do you enter a 1099-K1?

  • March 2, 2025
  • 1 reply
  • 0 views
The program is making it look like this is a crypto currency sale when it is an investment in stock of a start up company. How best to report in the TurboTax tool?

    1 reply

    March 2, 2025

    I suspect that you are referring to an IRS Schedule K-1 (Form 1065).

     

    If so, in TurboTax Premium Online, you would access this form by following these steps:

     

    • Down the left side of the screen, click Federal.
    • Down the left side of the screen, click Wages & Income.
    • Click on the down arrow to the right of S-corps, Partnerships, and Trusts.
    • Click to the right of Schedule K-1.
    • At the screen Tell Us About Your Schedules K-1, click to the right of Partnerships/LLCs.

    However, you may be seeing IRS form 1099-K.

     

    If so, in TurboTax Premium Online, you would access this form by following these steps:

     

    • Down the left side of the screen, click Federal.
    • Down the left side of the screen, click Wages & Income.
    • Click on the down arrow to the right of Other Common Income.
    • Click to the right of 1099-K.

     

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