There are three different kinds of K-1’s that can be entered into TurboTax software. Partnerships/LLCs (form 1065) S corporations (form 1120S) Estates and trusts (form 1041)You should be able to read the top of the form and determine which K-1 that you will be entering. In TurboTax Desktop, follow these directions. Across the top of the screen, click on Federal Taxes. Across the top of the screen, click on Wages & Income. Select I'll choose what I work on. Scroll down to Business Items. Click to the right of Schedule K-1. At the screen Tell us about your Schedule K-1, you tell the software which Schedule K-1 you received. For several screens, you will be entering data right off the K-1 form.

Question

I received two K1 forms to file my tax return. What category tab should I use?

Forum|Forum|1 year ago
March 18, 2025
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JamesG1

There are three different kinds of K-1’s that can be entered into TurboTax software.

Partnerships/LLCs (form 1065)
S corporations (form 1120S)
Estates and trusts (form 1041)

You should be able to read the top of the form and determine which K-1 that you will be entering.

In TurboTax Desktop, follow these directions.

Across the top of the screen, click on Federal Taxes.
Across the top of the screen, click on Wages & Income.
Select I'll choose what I work on.
Scroll down to Business Items.
Click to the right of Schedule K-1.
At the screen Tell us about your Schedule K-1, you tell the software which Schedule K-1 you received.
For several screens, you will be entering data right off the K-1 form.