Question

K-1 Form 1120-S. Turbotax does not seem to ask me for my allocation percentage! How do you enter the % of the company you own??!?

Forum|Forum|5 years ago
May 15, 2021
2 replies
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TurboTax Self Employed Online

A

Anonymous_

Employee

You may have missed the screen below but, as that screen indicates, it will not affect your return.

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P

phil-schaeferAuthor

That screen didn't ever show up for me, so I got the expert online and it didn't show up for him either. But thanks about that it doesn't affect the return! I didn't realize until today that the Box 1 amount is just my portion, not the entire S-corp amount.

Thanks for the quick response on here!

M

Mike9241

doesn't need to be entered. the numbers in part 3 should reflect your proportionate share.