DIY Products

DIY Products

Whether you’re an experienced do-it-yourselfer or doing your own taxes for the first time, this is your place to learn and share. Here you’ll find information and resources for using H&R Block’s online and software DIY solutions. You’ll also find links to more information to assist you on your DIY journey.

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Pioneer
Posts: 1
Registered: ‎01-04-2018
Accepted Solution

K-1 Schedule (Form 1065) In 2017 Software

I am not filing taxes for an LLC but receive a K-1 for payments received, it ends up being self employment.  Last year (2016) I used the regular PREMIUM edition and it worked fine, the year prior though (2015) I was able to use the DELUXE.  Amazon has a sale right now and I want to make sure I get the right version for 2017.  Is adding a K-1 still in PREMIUM or do I need PREMIUM & BUSINESS this year.  Thank you in advance!

Trusted Council Member
Posts: 6,191
Registered: ‎02-23-2016

Re: K-1 Schedule (Form 1065) In 2017 Software

Hi GameBoi27,

 

 

 

Welcome to the H&R Block community.

 

You will need the premium software like you did last year.  Schedule K-1 income is generally reported on Schedule E but is reported on Schedule D if it is passive, and even on Schedule B in some situations when you have dividends.  For Schedule E you will need premium, and premium is also required for most functions of Schedule D.

Pioneer
Posts: 2
Registered: ‎03-26-2017

Re: K-1 Schedule (Form 1065) In 2017 Software

[ Edited ]

Last year after I filled out the K-1, Premium would not let me e-file the fed return; I had to paper file.  After going to all the work to figure out how to put the information in (the program was not very helpful) that was quite irritating.

 

Has that lack of functionality changed for 2017?  If not, I'll go elsewhere this year.

Moderator
Posts: 113
Registered: ‎01-08-2018

Re: K-1 Schedule (Form 1065) In 2017 Software

Hello jojo5!

 

Welcome to The H&R Block Community!

 

Both H&R Block's online and downloadable software have had teams working on them throughout the year to update and add functionality to them. There have been a variety of changes made to these programs for 2017. Please, see the following links to find the product that best suits your tax needs:

 

H&R Block's web-based software:

https://www.hrblock.com/online-tax-filing/

 

H&R Block's downloadable software:

https://www.hrblock.com/tax-software/

 

I hope this helps. If you have any other questions, I'll be glad to help.

 

Alex

Tax Research Specialist

Esteemed Pioneer
Posts: 12
Registered: ‎04-11-2013

Re: K-1 Schedule (Form 1065) In 2017 Software

I am facing the same problem with GameBoi27 - Schedule K form item 14 self-employment earning. I am using premium software.  I have gone through all the Schedule K worksheet (whole form) and still not able to find the section of self employment income to overwrite the amount.  This item 14 self employment income will automatic transfer, create  and  self employment tax form and calculation of self employment tax.

 

I also faced problems importing previous year data - partnership capital and tax basis which I managed resolve the issues by overwriting the amount.

 

Need help in Schedule K - Self Employment earning.  Thank you.

jh-NV
Moderator
Posts: 113
Registered: ‎01-08-2018

Re: K-1 Schedule (Form 1065) In 2017 Software

Hello Jh-NV!

 

Welcome to The H&R Block Community!

 

To get the self-employment income from Schedule K-1 (1065) box 14 to transfer to the Schedule SE for self-employment tax in H&R Block's 2017 Premium downloadable software, you will need to enter the Schedule K-1 by following these steps:

  1. In the FEDERAL tab, go to INCOME
  2. Click on "Go To" next to Partnerships and S Corps (K-1)
  3. Click on "Add K-1"
  4. Fill out the corresponding information on each page and click Next until you reach the page titled "Remaining Boxes"
  5. Check all of the boxes included on your K-1, including box 14, and click Next to fill out the corresponding information for each additional box
  6. The page regarding box 14 will ask for the code and amount to be entered in

 

Once you have completed the entire K-1, you can go to Forms and view the Schedule SE. Section A, Line 2 will include the amount on box 14 of the K-1, plus any amounts from the Schedule C or Schedule C-EZ.

 

If you continue to have issues with this, you can contact Product Support in one of the following ways:

- For telephone support, call 1 (855) 897-8639

- For support via our online chat system, follow the steps in this link:

If you have questions regarding tax rules, you can chat in with our Ask a Tax Advisor service. The link above includes instructions on how to speak to a tax advisor, as well. 

 

 

I hope this information is helpful to you!

 

Alex

Tax Research Specialist

Esteemed Pioneer
Posts: 12
Registered: ‎04-11-2013

Re: K-1 Schedule (Form 1065) In 2017 Software

Thank you for the guidance, AlexandraL.

 

I bought the 2017 premium & business tax soft CD, install and update the software.  I faced problem a) partners' information not imported at all and printing report.  I contacted Customer Service and they send me a download version.  The printing report resolve but not the partners' information.

 

I have gone through the interview step by step till the end.  The Schedule K -1 report shown blank Amount in box 14.  This is not correct.  This box 14 should show the net earning (profit [loss]} and non-farming earning amount.

 

There is no "Chat Now" in the section of  Get Program Help option at all or "Get Assistant" icon.

 

I hope the person(s) in charge of this community can pass to IT of HR Block to resolve the issues.

 

Thank you and have a good day.

jh-NV
Pioneer
Posts: 1
Registered: ‎03-08-2018

Re: K-1 Schedule (Form 1065) In 2017 Software

Alex,

 

A problem exists in that the info from Box 14, with code A (K-1, Form 1065), does not show on Schedule E.  Income is underreported as a result. It does calculate SE tax, however.  Will this be corrected with the Friday, March 9 update? I would prefer to file electronically, which is why I bought the software.

 

Chuck

Pioneer
Posts: 2
Registered: ‎03-26-2017

Re: K-1 Schedule (Form 1065) In 2017 Software

Alex,

 

The links you provided do not answer my specific question - is the K-1 going to prevent my filing on-line? That is all I want to know before buying the software.