What is the situation with Form 1041 Schedule K-1? I've completed my fed tax return but I can't file yet because the govt is still working on updating the worksheet.

[lwfrafjsfdrf]

The IRS site says it's finalized but yet Turbo Tax won't let me file.

[teddyz]

I don't need the K-1, I have entered 0 in this box and I still can't file the return. What's the problem? This is ridiculous!!!

[Irene2805]

The K-1 for an estate/trust is not yet ready.  We have to submit our forms to the IRS and state departments of revenue for approval and do rigorous testing before including them in our software.  We are working as quickly and efficiently as we can. 

For current information on forms availability please click on the applicable link below:

• Federal forms
• State forms

TurboTax Online automatically updates the website when the forms become available.

In TurboTax CD/Download, you will be prompted to download any updates available when you open the program.  You can also update the program while you have it open by following these steps:

1. Click on the Online link in the black bar at the top of the page.
2. Click on Check for Updates.
3. TurboTax will download and install any updates available.  If there aren't any updates, you will receive the message "Your software is up to date."

@teddyz

If you do not need the K-1 for Estates/Trusts and it transferred over from last year, you can delete it using these steps:

1. Click on Federal Taxes > Wages & Income [In TT Self-Employed:  Personal > Personal Income > I'll choose what I work on].
2. Under Other Business Situations, click the box next to Schedules K-1, Q.    
3. Click Yes on the next screen, Schedules K-1 or Q.
4. On the Tell Us About Your Schedules K-1 screen, click on the Update box next to the appropriate entity (Partnership, S-Corp., Estate/Trust).  
5. If you see the screen, [Entity Type] K-1 Summary, click Delete next to the K-1 entry to remove it. 
6. Click the Yes box to confirm.  Then click Done.

Once you've removed the triggers, the K-1 form will no longer be part of your return.

[lwfrafjsfdrf]

Thanks so much for your response.  Do you have an idea when Schedule K-1 will be approved and ready to use?

[DawnC]

According to the Fiduciary Forms Availability list, Form 1041 K-1 is available.   There are some other forms that are not ready yet, so maybe it is a different form holding you up.  Does the trust return have any of the following?   If so, those forms have availability dates in the future.  

Form 8938, Statement of Specified Foreign Financial Assets

Form 4684, Casualties and Thefts

Form 2210, Underpayment of Estimated Tax

Form 2210 Schedule AI, Annualized Income Installment Method

Make sure your software is up to date as I think that might be your issue -  If you're on a PC, open TurboTax and select Check for Updates from the Online menu near the top. On a Mac, simply quit and reopen TurboTax. If there are any updates, you'll be prompted to download them.

Tips:

• It's best to use a wired, high-speed connection when updating, both to save time and minimize data corruption.
• If your connection drops in the middle of the update, try again; it should pick up where it left off.
• If you're having trouble updating on your PC, try the manual update below for the TurboTax Business Software.  

Manually Update TurboTax Business Software