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D
dschneid65
March 24, 2024
Question

turbotax home and business, schedule K-1 seems to have the boxes numbered wrong at least 4-7, 4 is interest income not 5, 5a is ordinary dividends not 6a and5b is qualified dividends not 6b.

  • March 24, 2024
  • 1 reply
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1 reply

VolvoGirl
VolvoGirl
March 24, 2024

Did you pick the right kind of K-1 when you started to enter it?  There are 3 kinds.  Delete this one and start over.

 

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.

 

 

D
dschneid65Author
March 24, 2024

Ahh yes, the program assumes the wrong sched. K, I did have to delete and manually select the 1120 s. It works now. I just have to decipher where to enter the special codes now 😞

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