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Are you trying to enter a K-1 or prepare a K-1?
To enter a K-1 go to
Federal Taxes Tab or Personal (Home & Business version)
Wages and Income
Then scroll way down to S-Corp, Partnerships and Trusts
Schedules K-1 - Click the Start or Update button
Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S
Schedule K-1 (Form 1065) for tax year 2023 should be available in TurboTax on 02/14/2024.
When will the S-Corp K-! entry be available (1120S)?
I also need to know when 1120S will be ready? I have everything done on my returns except this and I want to submit and get my refund, Need that refund. your software needs to be ready.
Ask the issuer of the K-1 when they will send it.
read the post. this is about turbo tac software not allowing entry of this information.
Same date 2/14/24. Use this lookup tool
There was no form change, and no law change affecting K-1s or their entry on a return. Why is Turbo Tax claiming there's a law change delaying entry of this information? That's patently false. You'd think software would be ready before it's held for sale.
And now they're saying not being released by turbo tax until 02/21/2024!! Think it might be time for us to look for another tax software next year as it seems when using turbo tax we're always waiting on them to finish one of their forms required for submission and it puts us behind the eight ball for refunds if we are entitled. Ugh!
This sort of thing happens every year. It seem like Intuit only hires people in January for patching the software. But they hire the marketing team in the fall to generate money.
For me, it is an unusual year after selling my house. I really want to know what tax bracket I'm in to strategize on whether Munis make more sense than a taxable money market. I can't even get an estimate until the K-1 issue is resolved.
The tough part is that I know this software well after years of use. Would another be better? Or do they do the same stuff. How long to learn something else?
Now showing 2/21 for K-1 readiness.
The link is now listing February 21 2024 as the date when K-1(1065) will be available.
Hey, It's 2/14. I still don't see K-1 ready. I need to enter K-1 income to see if I'm qualify nonrefundable EV tax credit. If I don't qualify, I'll need to pay my 2023 estimate income tax ASAP to avoid/reduce my tax penalty. This is frustrating. Can you just make the basic version available first and do update later?
"should be available in TurboTax on 02/14/2024"
Actually it SHOULD have been available since the product was released. But it is now 02/14/2024 and there is no update (yes, I just updated the desktop app [Premier] and it is still not there).
This PRODUCT DEFECT is the ONLY THING preventing me from filing my taxes.
I have been waiting for three weeks to file.
When WILL the schedule K-1/Q ACTUALLY be updated in TurboTax 2023 Premier?
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