Question

I have form 1041 schedule K-1. I need to know how and where to file it. Also in box 11 final year deductions are 3,854 is that income or deduction?

Forum|Forum|7 years ago
June 3, 2019
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TurboTax Deluxe Online

Employee

You need to upgrade to Premier to enter a K-1. If you received a Schedule K-1 and need to enter it in TurboTax, using the search bar in your TurboTax program, type in k1 or k-1 (small k) and click Find. This should give you a Jump To link to go directly to it.

OR
To enter a K-1 go to
Federal on Left side
Wages and Income
Then scroll way down to Business Items
Schedules K-1, Q - Click the Start or Update button

Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S