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Schedule k1 form 1065

Forum|Forum|7 years ago
June 3, 2019
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We have 2 K-1s for (what we assume) is our investments that were moved by our advisor. The 'type of entity' is IRA/SEP. trying to do TT ad being told we own a business bc of this 1065. income is less than $100 total for both K1s. How important is this to be included on our returns bc now, according to TT, we must upgrade to premium bc of the K1s.

TurboTax Deluxe Online

Best answer by MichaelL1

If these K-1 are from an IRA/SEP then you do not report them anywhere on your return.

The only reporting on an IRA/SEP is when money is put in, or money taken out.

MichaelL1Answer

Employee

If these K-1 are from an IRA/SEP then you do not report them anywhere on your return.

The only reporting on an IRA/SEP is when money is put in, or money taken out.

howell-amymAuthor

Thank you very much!