Question

PERSONAL TAX WITH K-1 SCHEDULE

Forum|Forum|3 years ago
April 10, 2023
1 reply
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I have the shares in a s-corporation and received k-1 with line 14 checked (schedule k-3). On schedule k-3 mention the income for "usa" in column "a" and the rest of the columns left blank, when I am using turbo tax it does not give the option for usa, what should I do also when it ask for company profit and loss, should I put the total company income or just my portion.

Thanks

M

Mike9241

column a is not entered in Turbotax and if that's all there was on the k-3 uncheck the k-3 box so you can e-file.

I

Isaac2000Author

Thanks for help, what about the second part of my question: "when it ask for company profit and loss, should I put the total company income or just my portion."