If you received a Schedule K-1 (Form 1041) as a beneficiary, you can enter this in your account, go to:
- Federal Section
- Income (Enter Myself)
- Other Income
- K-1 Earnings
- Schedule K-1 (1041)
The Schedule K-1 that you receive should only reflect your share of the income, deductions and expenses as applicable.
The program will automatically carry the figures, that you enter, to the appropriate places on your return. If you would like to know where to look for each item, please refer to the instructions for entering information from your Schedule K-1 Form 1041. Below is a link to the IRS form. These may be helpful in completing the entry of your Schedule K-1. You can also access the instructions included on the page for your benefit.
- Instructions for Schedule K-1 (Form 1041) for a Beneficiary Filing Form 1040
- Blank Schedule K-1 (Form 1041) - This 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 1041) 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.