The IRS made significant changes in Schedule K-1 for tax year 2023, adding dozens of new codes for several boxes, including new requirements for Form 8283, Noncash Charitable Contributions, which affect Schedule K- 1 Box 12 Code C.
Our programmers have been working to implement those changes for personal returns, connecting the new codes to appropriate Form 1040 lines and forms. Form 8283 is estimated to be ready by March 20, 2024.
Because updates are released after business hours Pacific time, we recommend you wait to update your software the next day, run Review again.
Regarding Sch-K1, box 13 C, it's now 03/21/2024 and the error is prohibiting me and countless others, i'd imagine, from filing our taxes. What plan is in place to ensure errors are addressed and we can file on time? I thank you for your feedback, in advance.
The work-around for this issue is to omit your K-1 entry for Box 13 Code C. Instead, enter it directly into the charitable contributions section under Deductions and Credits on your federal return. This is where the entry from Schedule K-1 would ultimately be reported.
We have no update for the estimated release date.
The issue has been resolved with the latest update on 3/28/24.
Updated today, 3/30, Desktop Premier, Box 13 Code A is supposed to flow to Sch A Line 16 but does not. It did before the latest update. Fixed one problem caused another?
It would be helpful to have a TurboTax ".tax2023" file to test further.
If you would be willing to send us a “diagnostic” file that has your “numbers” but not your personal information, please follow these instructions:
In TurboTax Desktop, open your return and go to Online in the TurboTax header. (On a Mac computer, choose File >> Share.)
We will then be able to see the same experience you are having. If we are able to determine the cause, we'll reply here and provide you with a resolution.