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March 16, 2024
Question

In the Business program I cannot enter the allocations for a new partner. Where do I go to add this? I followed instructions to go through forms K-1 wks,

  • March 16, 2024
  • 1 reply
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the forms k-1 wks does not allow me to type in the information. Where do I go to enter this?

1 reply

PatriciaV
March 17, 2024

The best option is to use the step-by-step interview to enter a new partner because you also need to adjust the existing partners' percentages.

 

  1. Open your return and go to Business Info >> About Your Business. At the bottom, click Edit beside "Has Ownership Change" and confirm you had a change.
  2. Now go to Partner/Member Information beside About Your Business.
  3. Work through the existing partners to review/adjust percentages and capital as needed.
  4. Then click "Add Another Member" at the bottom of the list to report the new partner.
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