K-1 Income not being reported in income summary or in 1040 preview

Forum|Forum|11 months ago
April 9, 2025
1 reply
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I think there may be a bug with the K-1 processing.

K-1 1065 income only seems to be reported if part 3 boxes 1-3 are given values.

If my k-1 1065 box 1-3 are not marked, due to the k-1 being for an investment fund, the income is not getting picked up by turbo tax for the investment income marked in box 11 (other income)

TurboTax Premier Online

DianeW777

It depends. Form 1041, does not have a box 20 on the K1. This indicates to me that you have an additional statement with details of income. If you have income from investments you can enter then directly using the instructions below. Interest, Dividends, Capital Gains are all reported in boxes 1-4. See the instructions for interest and dividends:

Where do I enter Form 1099-INT?
Where do I enter my 1099-DIV in TurboTax Online? // TurboTax Desktop: Search > 1099div > click the jump to... link

To enter your sale in TurboTax, follow these steps.

Open or continue your return.
Navigate to the investment sales section:
- TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open
- TurboTax Desktop: Search for investment sales and then select the Jump to link.
  - Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other
Answer Yes to the question Did you sell any of these investments in 2024?
- If you land on the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments.
- Click this link for more information. Where do I enter Investment Sales?