Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
D
donpowers820
March 8, 2025
Question

How do I enter income reported on a Scedule K-1, form 1041 on my standard deduction Turbotax form?

  • March 8, 2025
  • 1 reply
  • 0 views
I am using standard deduction. Can I include a small amount of income reporterd on schedule K-1 form 1041 with that being the only amount reported on the form?

1 reply

VolvoGirl
VolvoGirl
March 8, 2025

If you are using the Online version you need to use Premium to enter a K-1.

 

To enter a K-1 go to

Federal Taxes Tab or Personal (Home & Business version)

Wages and Income

Scroll down to S-corps, Partnerships, and Trusts or to Business items

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

Enter each k-1 separately.

TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsCookie settingsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification