I'm filing my Joint return with my wife, and Turbotax is asking about info from a K-1 (business we dissolved and filed final return in 2017). Why am I being asked for it?

[ktown5280]

I am not required to file any further business taxes since we dissolved our LLC (s corp) in 2018 for tax year 2017.  I filed a "final" return then but TurboTax still thinks I have info on a K-1 somewhere.

[DavidD66]

You can just ignore it.  Next year when you start your return, you can indicate in the interview that you no longer have a K-1 and it won't prompt you about it.

[ktown5280]

It will not allow me to ignore it.  I have completed my taxes and it is still telling me it is waiting on K-1's from a company that I dissolved in 2018.  I did not have any K-1's in 2021 or in 2020, so not sure why TurboTax is now preventing me from filing my 2022 taxes.  I do not own any businesses or have a stake in any businesses that would justify me needing a K-1.  I need to have this question basically just go away, since it does not pertain to my situation.

[VolvoGirl]

Try deleting it this way.  Go to the K-1 interview section here

Federal

Wages and Income

Then scroll way down to Business Items

Schedules K-1, Q - Click the Start or Update button

If the first screen says "Do you want to review Schedule K-1?". You have to answer yes and then click Update by  the Schedule K-1 type (LLC, S corp, trust). The next screen is the Summary screen listing all of the K-1 entered for that type of entity.  You can review, edit or delete it there.

[ktown5280]

Thanks, but it wouldn't let me ignore it.  I had to upgrade to a different version of TurboTax, that would allow me to select the K-1 and delete it.   That solved the issue. 

[VolvoGirl]

Duh, we should have caught that.  You need Premier for K-1.  Sorry bout that.

[dustted59]

I had the same question.  Thanks for this helpful information, it worked for me!

[dustted59]

Thanks for this helpful information, this worked for me.