2020 1065 K1 availability

Forum|Forum|5 years ago
February 5, 2021
4 replies
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I am trying to finish my business taxes for our partnership and get my partners their K1s from 2020, TT for Business keeps showing me that the Form is "available soon". According to the chart, I should have been able to utilize the 1065 K-1 form on 2/4. Turbo Tax Business is still showing me "Ready Soon". Meanwhile we are receiving K1s from other partnerships but I can't get our group's out to people. It's embarrassing, frustrating and bad for business. I thought when I updated this morning that the update was the K1s, but it was not. When will the forms ACTUALLY be available?

TurboTax Business Windows

Anonymous_

Level 15

@tlgrevelis wrote:

When will the forms ACTUALLY be available?

Hopefully, 2/11/2021.

See https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotaxbusiness_fed_windows_partnership.html

tlgrevelisAuthor

Level 2

Thanks, but here is a copy from what that chart says directly from the link you posted:

"Form 1065 Schedule K-1, Partner's Share of Income, Deductions, Credits, etc.

02/04/2021

02/04/2021"

Your answer says "hopefully 2/11". I'm receiving K1s from other sources.

Anonymous_

Level 15

I was under the impression you meant all of the forms that are required to be filed for a partnership return.

It is probably best to wait until Form 1065 is officially released in a TurboTax update before issuing K-1s.

DWe

Level 3

The IRS has 1065 forms available for 2020 so it doesn't make sense that they are not yet available in TurboTax.

https://www.irs.gov/pub/irs-pdf/f1065.pdf

Please let me know when they are available so I can finish and file.

Thank you.

tlgrevelisAuthor

Level 2

Exactly! Other sources that I receive K1s from got them out earlier this week and IRS site has shown them available for days. I understand a little delay, but this is unacceptable. I have partners waiting on me, they see that other places are getting their tax documents done and they are waiting on me to finish these up. It's bad business that I have no control over...this year. There are other options, however, for next year.