If you receive a Schedule K-1 that needs to be reported on your individual federal 1040 return, use the steps below to enter the information in TaxAct®. How you report the income depends on which Schedule K-1 you received:
Schedule K-1 (Form 1065) Partner's Share of Income, Credits, Deductions
Schedule K-1 (Form 1120S) Shareholder's Share of Income, Credits, Deductions
Schedule K-1 (Form 1041) Beneficiary's Share of Income, Credit, Deductions
Enter Schedule K-1 for Form 1065 (Partnerships)
From within your TaxAct return (Online or Desktop) click Federal. On smaller devices, click in the upper left-hand corner, then choose Federal.
Click Business Income to expand the category, then click Partnership Income (Form 1065 Schedule K-1)
Click New Copy of Partnership Schedule K-1 (Desktop users click Add)to create a new Schedule K-1, or click Review to review a copy already created