How to Enter K-1 in TurboTax

Quick summary

This demo shows how to enter a Schedule K-1 into TurboTax Online step by step, covering everything from navigating to the correct income section to submitting your partnership, S-Corp, or Trust details for filing.

Steps

1. Click "Federal" in the TurboTax navigation to begin entering your K-1 form.
2. Go to "S-corps, Partnerships, and Trusts" and click "Start" next to the Schedule K-1.
3. Confirm you have your K-1 form handy, then click "Yes" to proceed.
4. Choose the entity type (Partnership, S-Corp, or Trust) and click "Start".
5. Enter the business or entity name exactly as it appears on your K-1 form.
6. Input the Employer Identification Number (EIN) from Box C of your K-1.
7. Enter the partnership name and address, then click "Continue".
8. Choose and select the type of partner and click "Continue".
9. Enter the ownership percentage you share in the partnership.
10. Enter your liability share on the next page.
11. Enter your Capital Account Information and click "Continue".
12. Describe the partnership by selecting all applicable options, then click "Continue".
13. Choose the type of activity and click "Continue".
14. Your K-1 is now entered and ready for filing — click "Done" to finish.