Where to input the percentage of ownership from a K1? The entire loss is being applied to return and it should not be that way.

[falin5555-hotmai]

The entire loss from the K-1 that I received is being applied to my return. My percentage of that loss should only be applied. The specialists are saying that there isn't anywhere to input that. But, I should NOT have the entire loss being deducted from my income, as it is being now from line 10. Anybody know?

[PhoebeRoberts]

K-1s only report the recipient's portion of income.

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

[qbteachmt]

"The specialists"

Who are these people? Where did you get the K-1 from? Are you using ProConnect?

You seem to be lost on the internet.

You’ve come to a Peer User community for Intuit Income Tax Preparation products supporting tax preparation professionals using ProSeries, Proconnect and Lacerte Tax Preparation programs, and you may be looking for support as an individual taxpayer using TurboTax.

And try this screen, for the various topics (subforums): https://ttlc.intuit.com/community/discussions/discussion/03/302

Your sign in user info here is the same one you can use over at the TurboTax forum.

Thanks.

[greg7]

It sounds like the K-1 needs to be corrected.  If it is showing the whole amount instead of just the partner's portion, then it needs to be adjusted to show the portion of the amount that applies to that partner via the ownership percentage.