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K-1 form/tax program?
Old 10-14-2012, 10:58 AM   #1
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K-1 form/tax program?

Which tax software do you use that includes K-1 forms for MLPs and the like, that get sent to us for taxable accounts?
My Tax Cut standard edition did not support the K-1 I received last year.
Thanks
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Old 10-14-2012, 11:22 AM   #2
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Not familiar with Tax Cut but I would be surprised that it doesn't support K-1s. I use TurboTax and it is easy to report a K-1.
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Old 10-14-2012, 11:25 AM   #3
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TaxAct

TaxACT | Free Tax Preparation Software, File Taxes Online, Free E-filing
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Old 10-14-2012, 01:44 PM   #4
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Quote:
Originally Posted by pb4uski View Post
Not familiar with Tax Cut but I would be surprised that it doesn't support K-1s. I use TurboTax and it is easy to report a K-1.
+1

Many MLPs will download K-1 data directly into TurboTax.
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Old 11-03-2012, 06:33 PM   #5
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Quote:
Originally Posted by sailfish View Post
Which tax software do you use that includes K-1 forms for MLPs and the like, that get sent to us for taxable accounts?
My Tax Cut standard edition did not support the K-1 I received last year.
Thanks
Turbotax comes closer than most, but depending on the type of K-1 you have the software may not cut it. I gave up the MLP's just for that reason. Though the returns are great the accounting is a nightmare, and by the way they can lead to "Tax Due" for IRA accounts as well!

fd
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Old 11-03-2012, 09:20 PM   #6
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Originally Posted by FinancialDave View Post
Turbotax comes closer than most, but depending on the type of K-1 you have the software may not cut it. I gave up the MLP's just for that reason. Though the returns are great the accounting is a nightmare, and by the way they can lead to "Tax Due" for IRA accounts as well!

fd
+1
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