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hugoowen
Returning Member

TurboTax Business - Won't carry over prior year's owners

TurboTax Business 2020.   It isn't carrying over our company's owners information from our 2019 return.  And it won't let me add the owner names unless I indicate that there has been a change in owners.   And there hasn't been any change in owners.    What is the work-around for this GLITCH !!!!

3 Replies
tagteam
Level 15

TurboTax Business - Won't carry over prior year's owners

A number of instances of this behavior has been reported.

 

Generally, it has been necessary for users to review the return that was transferred in to the current year to ensure an owner (partner, member, or shareholder) was not deleted or otherwise indicated to have left the company.

hugoowen
Returning Member

TurboTax Business - Won't carry over prior year's owners

I have checked this thoroughly.   It is definitely a glitch in the software.   TurboTax really should fix this.    The ownership has not changed for 7 years.   For 7 years TurboTax has been transferring the prior owners no problem.   Now, this year, they don't transfer over.   I input that there has been no change of ownership - i.e. the truth.  And then TurboTax takes me into the following quandry:   Making me state that there has been a change in ownership in order to input the names of the 2 owners who have been the owners for the past 7 years.     I think I can probably go to the forms and override the software... but the software should work, right?      You indicate that a number of people are having this problem.   Well.  I am not alone!!     Do you work for TurboTax?  Will you let them know?    Thanks....

tagteam
Level 15

TurboTax Business - Won't carry over prior year's owners


@hugoowen wrote:

....the software should work, right?      You indicate that a number of people are having this problem.   Well.  I am not alone!!     Do you work for TurboTax?  Will you let them know?   


Yes, the software should work and, yes, the appropriate people at TurboTax have been made aware of the issue.

 

Further, yes, a number of users have had this problem but not all users. The latter being the case, I am sure you can understand that the issue is rather difficult to track down. Personally, I have transferred several dozen test returns (1041s, 1065s, and 1120-Ss) from 2019 to 2020 and have not experienced this anomaly once.

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