Frustrated

[PapaOpah]

I posted this quest several hours ago - 

""K1 entries are different

My wife and I have an LLC, taxed as a pass through, 50/50 partnership. TurboTax Business created K1's for each of us. My K1 has an amount in box 14, a&c which is self-employment earnings and it is half the LLC earnings. There is NO amount in box 14 of my wife's K1. This is our only source of income. it should show self employment earnings on hers, shouldn't it? ""

No one has replied. The LLC taxes were filed 6 days ago. How do I amend the K1 that TurboTax INCORRECTLY generated for my wife, so I can file my personal taxes. The incorrectly generated K1 will not affect the LLC return as it is a pass thru LLC. The only help I seem to get from Turbo Tax is wanting me to Upgrade to Live at an additional $60. HELP....Anybody??? 

[Anonymous_]

It is strange that you would receive the advice to upgrade to Live since there is no way to rectify your wife's K-1 other than by going back into TurboTax Business (for which Live is not offered).

Regardless, you need to check the entries and information for your wife in TurboTax Business.

[PapaOpah]

We have been over all of the entries. Partner information was checked as same as last year. Last years forms were all correct though last year we had a loss, so no self employment earnings - it showed a loss last year. My K1 has all the correct information, exactly half of everything like it should. My wifes K1 is the exact same with the exception the K1 does no have her half of the income listed as self employment earnings on line 14 of the K1. I am currently amending the filed LLC tax return as they were due on March 15, and I efiled them on the 6th not realizing one of the 2 K1's was incorrect. I had to prove to the tier 2 agent that it was the program, she said I needed to upgrade to Home and Business. Then I needed to upgrade to Premier (I use deluxe for my personal and business for the LLC) For whatever reason, Deluxe will not import the K1, so I am manually inputting the information from the TT Business generated K1 and that is how I found the information was missing) The upgrade was from the automated clerk.

[Anonymous_]

if you look at your wife's K-1 in TurboTax Business, which box is checked in Part II, item G?

General partner or LLC member-manager OR

Limited partner or other LLC member

[PapaOpah]

I found that little box after running through every question/guide in Turbo Tax Business the fourth time. When checking the return, I had been clicking through and letting TurboTax guide me. No one could tell me where to look or why it would be happening. Plus a number of days with no answers, I was quite frustrated. I switched to forms and saw the check mark on limited partner. SO I started reading the IRS Publications. Then I checked last years to make a comparison and for whatever reason, checking the "Same as last years information" box did not transfer it correctly. The past two years it has been "General  or LLC managing member.", That's why I kept missing it. By the time I received your reply I was finishing the amended return. Thanks for trying and for providing an answer.