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?
Thanks, but here is a copy from what that chart says directly from the link you posted:
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.
per link
Form 1065, U.S. Return of Partnership Income (p4-5)
02/11/2021
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.
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.
Today is 2/11/2021, and it still says "will be ready soon". Are there any updates?
There was an update released today for the personal, desktop products, so the update for the business product might be released sometime later today.
Identical situation for our partnership.
NO UPDATE AVAILABLE as of 12:00 PST 02/11/2020
How does one obtain a refund for lackluster program which FAILED to disclose this deficiency prior to purchase/download?
Embarassing.
-rm
For steps on how to request a refund for your TurboTax product please click the link below.