Solved: K1 - how do I clear/fix a flag when the name of S Corp is requested? My K1 is for a publicly traded partnership, not an S Corp.
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prosen001
New Member

K1 - how do I clear/fix a flag when the name of S Corp is requested? My K1 is for a publicly traded partnership, not an S Corp.

 
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IreneS
Intuit Alumni

K1 - how do I clear/fix a flag when the name of S Corp is requested? My K1 is for a publicly traded partnership, not an S Corp.

You may have inadvertently started a K-1 for an S-Corp.

To delete a K-1, you need to delete the “triggers” that caused it to be activated.  You can delete the K-1 in TurboTax Online by following these steps:

  1. Click on Federal > Wages & Income [In TT Self-Employed:  Personal > Personal Income > I’ll choose what I work on].
  2. Under S-corps, Partnerships, and Trusts, click on the box next to Schedule K-1
  3. On the Tell Us About Your Schedules K-1 screen.  Click on the Start/Update box next to S-Corporations (Form 1120S).
  4. You will see the S-Corporation K-1 Summary screenClick Delete (trash can icon) next to the name.


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1 Reply
IreneS
Intuit Alumni

K1 - how do I clear/fix a flag when the name of S Corp is requested? My K1 is for a publicly traded partnership, not an S Corp.

You may have inadvertently started a K-1 for an S-Corp.

To delete a K-1, you need to delete the “triggers” that caused it to be activated.  You can delete the K-1 in TurboTax Online by following these steps:

  1. Click on Federal > Wages & Income [In TT Self-Employed:  Personal > Personal Income > I’ll choose what I work on].
  2. Under S-corps, Partnerships, and Trusts, click on the box next to Schedule K-1
  3. On the Tell Us About Your Schedules K-1 screen.  Click on the Start/Update box next to S-Corporations (Form 1120S).
  4. You will see the S-Corporation K-1 Summary screenClick Delete (trash can icon) next to the name.


**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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