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March 21, 2023
Question

I received a final k-1 after the death of my mother in '22 - Where do I input the capital gains?

  • March 21, 2023
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1 reply

March 21, 2023

When you complete your K1 entry the capital gains should carry to the Schedule D and then to your Form 1040.  The entry should be in box 4a of your K-1 if they are long term capital gains.

  • Where do I enter my K1 I received?
    1. Sign in to TurboTax
    2. Open or continue your return
    3. Select Search, enter K-1 and select the Jump to k-1
      1. If the Jump to link doesn’t work, select Federal, then under S-corps, Partnerships, and Trusts, select Wages & Income
      2. Select Revisit or Start next to Schedule K-1
    4. Answer Yes to Do you want to review Schedules K-1 or Q? and follow the prompts
    5. We’ll ask some questions about your K-1, and then you’ll enter the data from the form

Once you have entered your K1, you can review your Form 1040 by using the steps below. You will see capital gains from Schedule D on line 7.

Using the Tax Tools:

  • To find Tools: 
    1. Sign into your TurboTax account and open or continue your return. 
    2. Select Tax Tools in the left menu. 
    3. You'll find Tools beneath Tax Tools.
    4. Select View Tax Summary
    5. Select Preview My 1040 (left black panel)
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