Question

Upgrade to Turbo Tax business.

Forum|Forum|5 years ago
March 14, 2021
1 reply
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I have a K-1 from an S corp and a K-1 from an estate. How do I upgrade from Turbo Tax Home & Business to Turbo tax Business?

TurboTax Business Windows

VolvoGirl

Employee

Wait.......Do you need to prepare the S corp and Estate tax returns? Or just enter the K-1 you received into your personal return? You don't need the Business program to enter a K-1. All the Desktop programs have K-1 entry. In the Online version you need Premier or the Self Employed version.

To enter a K-1 go to

Federal Taxes Tab or Personal (Home & Business version)

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

Enter each k-1 separately.

S

Starsh01Author

Hi. It turns out that my download of TurboTax Home & Business did not include a Section for K-1's. I had to call for assistance and have the program downloaded again.