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September 14, 2019
Question

How do you review a k-1 entered into turbotax?

  • September 14, 2019
  • 2 replies
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2 replies

September 14, 2019

Go to the "Personal" section toward the tope of the screen for your program which should be below the blue header which reads Tubotax and the program you are using, example "Home & Businss," then under "Personal Income" go to "Business Investment and Estate/Trust Income."  Click the "Update" button and then check the entries in the boxes and compare them to what your K-1 has in each box to compare that to what you entered to what is on your K-1.  I hope this helps you. 

Critter
Employee
September 14, 2019

If you have not filed yet you can return to the K1 input screen to see the info you entered ...

 

To enter a K-1 go to 
Federal Taxes Tab ( Personal in the H&B versions )
Wages and Income
Choose Explore on my own or I'll choose what to work on  (if it comes up)
Then scroll way down to Business Items
 S-corps, Partnerships, and Trusts.  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