Question

Uploading K1

Forum|Forum|2 years ago
March 6, 2024
1 reply
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TT send me an email that my K1's were ready and that they would be uploaded automatically. Here's their statement: "Open TurboTax on your computer, install the updates when prompted, and your forms will be automatically included." THAT DIDN'T HAPPEN. What do I do? TT Support is no help.

VolvoGirl

Are you using the Desktop program or the Online version? My old notes say.....

You can only import a K-1 to the Desktop CD/Download Software, not to Online version and if you can get a .txf file for it and in the right format. Apparently you can only import K-1s for MLPs and not Trusts or Estates. You can not import a K-1 from Turbo Tax Business Program.

Where to enter a K-1
https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-k-1-received/L0GrC2Hcd_US_en_US?uid=lefujast

You need to use Online Premium or any of the Desktop programs to enter a K-1.

To enter a K-1 go to

Federal Taxes Tab or Personal (Home & Business version)

Wages and Income

Then scroll way down to S-Corp, Partnerships and Trusts

Schedules K-1 - Click the Start or Update button

Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S