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June 4, 2019
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If I have a relatively simple K-1 from a trust can I still use Turbotax Deluxe for filing my 2016 tax return?

  • June 4, 2019
  • 1 reply
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The K-1 will likely include interest, tax-exempt interest, interest dividends, and a gain/loss on sale of a mutual fund.

    Best answer by Anonymous_

    "If I have a relatively simple K-1 from a trust can I still use Turbotax Deluxe"

    No, not the online version of TurboTax Deluxe. In order to enter information from a K-1 (even a simple K-1) with an online version of TurboTax, you will need at least TurboTax Premier. 

    You can, however, enter information from a K-1 with any desktop (CD/Download) version of TurboTax.

    1 reply

    Employee
    June 4, 2019

    "If I have a relatively simple K-1 from a trust can I still use Turbotax Deluxe"

    No, not the online version of TurboTax Deluxe. In order to enter information from a K-1 (even a simple K-1) with an online version of TurboTax, you will need at least TurboTax Premier. 

    You can, however, enter information from a K-1 with any desktop (CD/Download) version of TurboTax.

    April 2, 2024

    How do I enter a K-1 on turbo tax deluxe desktop version?  TY

    DoninGA
    Employee
    April 2, 2024

    @Eduardo Tovar wrote:

    How do I enter a K-1 on turbo tax deluxe?  TY


    The TurboTax online web-based edition of Deluxe does not support entry of a Schedule K-1, you would need to upgrade to the Premium edition.

     

    To enter a Schedule K-1

    Click on Federal
    Click on Wages & Income
    Scroll down to S-corps, Partnerships, and Trusts
    On Schedule K-1, Q, click on the start or revisit button