1298329
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

dabberdoo
Returning Member

LLC Change In Ownership

I am having the same issue and it is really annoying. The change in ownership interest was timed intentionally to occur January 1, 2021, so that the allocation between the remaining partners would be correct. (In this case, going to 4 partners to 2). The Turbotax system just ignores the change in ownership no matter what workaround I try and give multiple errors when I go to "check my return." 

dabberdoo
Returning Member

LLC Change In Ownership

I was finally able to fix this by manually changing the ownership interests on the K-1 Information Sheet, but you still have to reallocate everything manually as well.

Elrmarbt
New Member

LLC Change In Ownership

Having this issue on business 2022. Only had one previous filing in 2021. Same members, still getting the error of "To add a new member, you should acknowledge that there's been a change in ownership." - there hasn't been one. This is very irritating.

LLC Change In Ownership

What most likely is happening is that the input from 2021 to 2022 hasn't been transfered over properly.

When you open up your 2022 business tax return, you'll hit on Start new return

Next screen, you'll click on hit Begin

Then the next screen, you'll hit Browse files

Select the folder where you downloaded your 2021 file in

Then hit Transfer return

It worked for me , so I'm sure it will work for you as well too.  

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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question