If you received a Schedule K-1 (Form 1065) from a partnership, you can enter this in your account by going to:
- Federal Section
- Income -Select My Forms
- Less Common Income
- K-1 Earnings
- Schedule K-1 Form 1065
The Schedule K-1 (Form 1065) should only show your share of the income, expenses and deductions (as applicable). The program will automatically carry the figures that you enter to the appropriate places on your return. Please refer to the instructions for entering information from your Schedule K-1 Form 1065 for how each item should appear on your return. Below are links to IRS forms. These may be helpful in completing the entry of your Schedule K-1.
- Partner's Instructions for Schedule K-1 (Form 1065)
- Blank Schedule K-1 (Form 1065) – this form includes descriptions of each box/section and explanations of where each item should be reported.
Note: Some items reported on your Schedule K-1 (Form 1065) may need to be entered directly into a specific form instead of the K-1 entry screen. Please refer to the links above to find out if this is case for any items that do not have an entry field located in the K-1 entry screen.
Can I file a 1065 K-1 using this program?
No, you cannot file the partnership business return using this software. You can file only your portion of the K-1 you received as a partner along with your other income as part of your individual income tax return.