Can I remove a K1 that I received in 2021 from my 2022 taxes?

Forum|Forum|3 years ago
January 16, 2023
6 replies
82 views

I received a K1 in 2021, but not in 2022. The K1 is still saved in my tax info on TurboTax Online, and I need to remove it as it no longer applies. How do I do this without upgrading to Premier?

TurboTax Deluxe Online

Best answer by JohnB5677

You cannot simply delete a K-1 form. It will remain active until the return indicates that it is inactive.

Select Wages & Income

Scroll to S-corps, Partnerships, and Trusts
Select Schedule K-1
Choose the type of K-1
1. Partnership / LLC (Form 1065)
2. S-Corp (Form 1120-S)
3. Estate or Trust (Form 1041)
Continue through the Interview

If your K-1 was not active or was eliminated in the current tax year, continue through the interview.

Do not enter anything until you get to: Describe the Partnership
Select: This partnership ended in 2022.
This will not delete the K-1 from this year's return, but it will next year.

MinhT1

Level 15

This schedule K-1 has been transferred to your 2022 return from previous year's return.

To delete it, please follow these steps:

In TurboTax, open your return
In the left-hand column, locate Tax Tools, click on the drop-down arrow then click on Tools
On the Tools Center page, click on Delete a form
A list of forms will appear. Locate the Schedule K-1 (name of entity) and click Delete next to it.
On the next screen, click Delete Form

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rtisraelskyAuthor

Level 2

Thank you. I deleted the form, but i'm still being prompted to review my K1 and to upgrade in order to access the form. How can I get around that?

JohnB5677Answer

Level 15

You cannot simply delete a K-1 form. It will remain active until the return indicates that it is inactive.

Select Wages & Income

Scroll to S-corps, Partnerships, and Trusts
Select Schedule K-1
Choose the type of K-1
1. Partnership / LLC (Form 1065)
2. S-Corp (Form 1120-S)
3. Estate or Trust (Form 1041)
Continue through the Interview