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C-corporations pay income taxes themselves. They are not pass-through entities and do not issue schedules K-1.
I know that - but why did Turbo tax include one in my return. Another note, from last years - I spoke to one of your tax folks. They said Louisiana just says "S" Corporation (which would file a K1) - but filing would be the same for a "C" Corporation which our firm is. I have my return - purchased from Amazon - I can forward. I need to correct this K1 situation and eliminate it.
The system may be carrying a K1 over from a prior year. You can go to the investment section of 'Wages and Income' on your federal return and click 'start' or 'edit' next to the form K-1 input section. Find the K-1 that is in there and click the little trashcan next to it and it will remove the K-1 from your tax return.
I cannot seem to remove the K-1 schedule, even though we file as a Louisiana C corporation. What can I do????? Can someone call me at [phone number removed] - specifically if possible RobertB444 tried to respond but I cannot locate any trash can - so I tried delete form and my Form 1120, p3-6 keeps giving me an error message not done (K1 do no require with a "C" corporation).
If you are working in TurboTax Business, please provide the error message that appears at the bottom of the form.
You can also delete forms from this view. Open the form and click the "Delete" button at the bottom of the form.
THIS DID NOT WORK - I NEED HELP!
OK Error says:
Form 1120, p3-6
Sch. K, Method of Accounting checkboxes must be entered.
This worked thank you so much Patricia V!!!!
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