Cannot create K-1's for an estate...

[JeffC]

Using Turbo Tax Business 2019, click on Distribute K-1's and Turbo Tax responds with "Your Schedule K1 forms are not ready yet. Please add partner/shareholder information to your return".  I have all beneficiaries listed, and it is an estate...

[tagteam]

Can you provide more details? I cannot seem to reproduce your issue.

Do you not see the Save as PDF and Print buttons when you click on Distribute K-1s?

[ABC134]

Same issue here. Created a state and federal return for a trust. E-filed it. Can't create K1. Clicked the button to create the K1. An error message comes up:"To generate schedule K1 PDFs please add  partner/shareholder information to your return". The only button there is "OK", which just takes me to the previous screen. 

[tagteam]

Are you able to otherwise print out all of your forms? Can you save as a PDF in subsequent screens?

I have now created two test returns for trusts and one test return for an estate (obviously all are 1041s) and I cannot reproduce the issue.

[JeffC]

I see the save as PDF, and ... pressing it generates the failure message I specified.

I loaded last years taxes, and have the failure.  After re-entering *everything* in a new tax document, i.e. no import, I can print the K-1 sort of... the info about the executor, and beneficiary are present, but no information about the disbursement is present in the K-1.  

Basically any field that *might* have a dollar amount is blank.  The worksheet shows the disbursement amount properly.

[ABC134]

I have been able to print everything in the subsequent screen. I don't know what information should be on the forms. Thus, I can't tell if any fields are missing that are causing this. I've gone back and fourth through the questions. Everything appears to be answered. What do I do?

[tagteam]

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@ABC134 wrote:

I have been able to print everything in the subsequent screen. I don't know what information should be on the forms. Thus, I can't tell if any fields are missing that are causing this. I've gone back and fourth through the questions. Everything appears to be answered. What do I do?

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You can initially compare your printed forms to the forms listed in Forms Mode, but there should be no difference whatsoever. 

Subsequently, you might try contacting Support (link below); they can conduct a remote session to try and determine what is occurring with your tax file or program.

https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

[kathleentaxgirl123]

Hi, I have had the same issue.  I found I can force print the K-1s by doing the following:

While in the program, go to View, then Forms, find the K-1 you need and click  on it from the list of forms that appear on the left of the screen.  Hit the Print button that appears, then  Preview Print Copy.  Once it appears in the .pdf format, use whatever printer function you need.  You will need to do this for each Federal and State K-1 that is needed and will need to attach them to the return and mail the return.   I am a long time user, not a TurboTax customer service person, so this is my workaround.

Hope it works for you.

[kathleentaxgirl123]

I have had the same issue.  I found I can force print the K-1s by doing the following:

While in the program, go to View, then Forms, find the K-1 you need and click  on it from the list of forms that appear on the left of the screen.  Hit the Print button that appears, then  Preview Print Copy.  Once it appears in the .pdf format, use whatever printer function you need.  You will need to do this for each Federal and State K-1 that is needed and will need to attach them to the return and mail the return.  I posted this response to another user a few minutes ago, but did not know if you would notice it.

[DavidS127]

In the trust return I created in TurboTax Business I am able to print and save as a PDF the beneficiary K-1.

If you haven't done so recently, try to update your TurboTax Business (menu at top, Online>>Check for Updates).

[johnlanglois]

You can go to the K-1 forms and print/save as PDF the K1 distribution form.
The Distribute K-1's has a bug that they just won't admit is there.

[tagteam · Accepted solution]

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@johnlanglois wrote:

The Distribute K-1's has a bug that they just won't admit is there.

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If it is a bug, I certainly cannot reproduce the results and that includes four different test (Form 1041) returns.

I can save the PDFs without issue and also my PDF software opens immediately after I click the Print button (which obviously allows me to print the K-1s).

[Chesterton]

I have the very same problem. This is definitely still a bug.

[Chesterton]

I realized that in the Step-By-Step steps for Federal Taxes, in the Distributions tab I had selected "No, I don't need to have a Schedule K-1 created." I did this because there were no distributions for the year. When I changed the choice to "Yes, I still want a Schedule K-1 created even if blank.", then I was able to click the Save as PDF in "Distribute K-1s". The original error message was wrong because the reason it wouldn't save had nothing to do with needing to add partner/shareholder information. Anyway, perhaps this was the issue with others who experience this issue.

[joejoe1592]

I'm getting the same problem!  

Here's the image link:

https://drive.google.com/file/d/1eYwYUQ4igJWWD_2HcAbqWKTAHHqncflK/view

I hate TT!  Wasted the whole **bleep** evening trying to figure out why this is happening and what to do about it.