Scheule K1- Why won't it let me file without a Schedule E?

[johnjeffreyparke]

My turbotax won't allow me to file without a schedule E. My s-corp does not own real estate and I don't have royalties to write in. What gives?

[TaxGuyBill]

Page 2 of Schedule E is where the information for K-1s go.  It is only page 1 of Schedule E that is used for rentals and royalties.

[johnjeffreyparke]

Let me explain more clearly. I have an account for my S-Corp. I do my personal taxes on my own. My accountant did not provide me with a schedule E on my K-1. I'm not sure if I need it? I have no real estate holdings.

[TaxGuyBill]

Schedule E is on your personal tax return.  When you enter your K-1 into your personal tax return, it will generate a Schedule E on your personal tax return.  There is no need to have a Schedule E as part of the corporate tax return.

What EXACTLY is the problem?  Are you getting an error message?  If so, what EXACTLY is that error message?  Or were you thinking your personal tax return should not have a Schedule E?

[johnjeffreyparke]

I was getting an error, then I changed some of my corporate information. Now it's asking for a Form 565. I'm the sole owner of the business and am unsure of the "partnership name" and "partnership ID number."

[TaxGuyBill]

Form 565 is a State form, so is it the State that is giving you a problem?  Wait, I don't think that should even be part of your personal tax return.  What program are you using?

You originally said you have a S-corporation, but now the program is asking you about a Partnership?  You must have answered something wrong.  Go back to the Federal section about K-1s, and makes sure you delete anything about a Partnership.