I purchased Turbo Tax Business 2023 software and did my partnership taxes now i need to file my 1040 federal and 2 state?

Forum|Forum|3 years ago
April 16, 2023
2 replies
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how to use turbo tax online and my downloaded software together?

TurboTax Online

JamesG1

That is correct.

Your IRS form 1065 US Return of Partnership Income will generate a Schedule K-1 (Form 1065).

The Schedule K-1 (Form 1065) reports business income or loss, interest, dividends and other tax attributes from the IRS form 1065 pass-through entity.

Recipients report the Schedule K-1 on their own personal tax returns. See this TurboTax Help.

@streetstylerseve

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streetstylerseveAuthor

Hi thank so much for the reply. My ultimate question is there an easy way to transfer all my info to the automated turbo tax personal taxes from the software? Instead of typing it all out again.

CarissaM

The two systems are not connected. You can transfer a prior year return in, however if just doing the one year you would need to manually enter the data. @streetstylerseve

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