Skip to main content
Employee
June 7, 2019
Question

Tax Year Prior to 2020: Do I need TurboTax Premier to file Schedule K-1 Form 1065?

  • June 7, 2019
  • 2 replies
  • 0 views

Or Deluxe is covering that form? I'm using the download version purchased from Amazon.

2 replies

June 7, 2019

Yes - You need to use the Premier version of TurboTax to enter a Schedule K-1 in TurboTax.

 

Please make sure you use the right K-1 entry form. There are actually three types of K-1s, depending on the type of entity creating the K-1: partnership, S-corporation and trust/estate.  Lines and codes on the forms differ from each other.

 

 To enter information from a Schedule K-1, please follow these steps:

  1. Click on Federal Taxes > Wages & Income > I'll choose what I work on.
  2. In TurboTax CD/Download:  Go to Business Investment and Estate/Trust Income, click on the Start/Update box next to Schedule K-1.   In TurboTax Online:  In the S-corps, Partnerships, and Trusts section click the Start/Update box next to Schedule K-1. 
  3. Click Yes on the next screen, Schedules K-1 or Q.  
  4. On the Tell Us About Your Schedules K-1 screen.  Click the Start/Update box next to the type of entity that issued the K-1 (S-Corps, Partnerships, Trust/Estate).
  5. If you have already entered K-1 information, you will see a Summary screen.  Click Add Another K-1 to enter your information  (or click on Edit to continue with the existing form entry).   
  6. If you haven't started entering K-1 information, continue through the screens, entering the requested information.

 

[Edited | 3/10/2020 |  10:38am PDT]

June 7, 2019
if it is from an IRA account it does not have to entered; usually does not have your ssno?
March 21, 2023

I have Premier Desktop but K1 oon my desktop does not have Statement A and Statement C pages. How do I get those so I can enter data. I get Error when I try to Error check without those

HopeS
March 21, 2023

Typically the Statements to support your K-1 should have been attached to the K-1 received. You can contact the party who sent you the K-1 package to see if these statements are missing.

 

If this is not what you are referring to go ahead and send another message.

 

@cbeyers316 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"