Solved: I did not receive a k1 for the past few years yet there is an allowed loss on my return. How do I eliminate theis k1 information?
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I did not receive a k1 for the past few years yet there is an allowed loss on my return. How do I eliminate theis k1 information?

 
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Level 14

I did not receive a k1 for the past few years yet there is an allowed loss on my return. How do I eliminate theis k1 information?

You can delete the K-1 by also eliminating the triggers for the form.  To do this please follow these steps:

  1. Click on Federal Taxes > Wages & Income [In TT Self-Employed:  Personal > Personal Income > I'll choose what I work on].
  2. Under Other Business Situations, click on the Update box next to Schedules K-1, Q ,  
  3. Click Yes on the next screen, Schedules K-1 or Q.
  4. On the Tell Us About Your Schedules K-1 screen, click on the Start/Update box next to the type of K-1 you wish to delete (partnership, S-Corp, Trust/Estate).  
  5. On the [Entity Type] Summary, click Delete next to the K-1 entered.   
  6. Confirm the deletion on the next screen.
  7. You will be brought back to the K-1 Summary screen, click the Done box.


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1 Reply
Level 14

I did not receive a k1 for the past few years yet there is an allowed loss on my return. How do I eliminate theis k1 information?

You can delete the K-1 by also eliminating the triggers for the form.  To do this please follow these steps:

  1. Click on Federal Taxes > Wages & Income [In TT Self-Employed:  Personal > Personal Income > I'll choose what I work on].
  2. Under Other Business Situations, click on the Update box next to Schedules K-1, Q ,  
  3. Click Yes on the next screen, Schedules K-1 or Q.
  4. On the Tell Us About Your Schedules K-1 screen, click on the Start/Update box next to the type of K-1 you wish to delete (partnership, S-Corp, Trust/Estate).  
  5. On the [Entity Type] Summary, click Delete next to the K-1 entered.   
  6. Confirm the deletion on the next screen.
  7. You will be brought back to the K-1 Summary screen, click the Done box.


**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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