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Why do I see Schedule K-1 for a Sole Proprietorship?

I am operating a small business as a sole proprietor (no other employees other than myself), married filing jointly. After completing my income (all 1099s for the business) and deduction information (including Schedule C deductions), upon Smart Check of Personal Taxes, I get an error for Schedule K-1, S-Corporation Name. I do not see Schedule K-1 in the forms section of my return, but it is not my intent to file as an S-Corporation.

 

Why might I be seeing a Schedule K-1 when I'm wanting to file as a Sole Proprietor?

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1 Best answer

Accepted Solutions
HopeS
Expert Alumni

Why do I see Schedule K-1 for a Sole Proprietorship?

If you are filing Schedule C  (Business Profit & Loss) and did not file Form 1120S, you should delete Schedule K-1 since it appears you created this by mistake.

 

You can just delete the K-1(S) using these instructions:

TurboTax Online

  1. While in your return, click on Tax Tools > Tools (in the black bar at the side of your screen). 
  2. In the Tools Center, under Other helpful links click on Delete a form. 
  3. Click Delete next to the appropriate form or schedule and follow the onscreen instructions
  4. Once you have finished deleting the desired form(s) click the Continue with My Return box (in the lower right of your screen).

TurboTax CD/Download

  1. Go into Forms Mode by clicking on the Forms icon in the top right of the blue bar.  
  2. In the Forms in My Return list on the left, double-click on the form you wish to open and delete.  
  3. Click on the Delete Form box at the bottom of the screen.
  4. To return to the interview, click on the Step-By-Step icon in the top right of the blue bar.


@Michael16 

 

 

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
HopeS
Expert Alumni

Why do I see Schedule K-1 for a Sole Proprietorship?

If you are filing Schedule C  (Business Profit & Loss) and did not file Form 1120S, you should delete Schedule K-1 since it appears you created this by mistake.

 

You can just delete the K-1(S) using these instructions:

TurboTax Online

  1. While in your return, click on Tax Tools > Tools (in the black bar at the side of your screen). 
  2. In the Tools Center, under Other helpful links click on Delete a form. 
  3. Click Delete next to the appropriate form or schedule and follow the onscreen instructions
  4. Once you have finished deleting the desired form(s) click the Continue with My Return box (in the lower right of your screen).

TurboTax CD/Download

  1. Go into Forms Mode by clicking on the Forms icon in the top right of the blue bar.  
  2. In the Forms in My Return list on the left, double-click on the form you wish to open and delete.  
  3. Click on the Delete Form box at the bottom of the screen.
  4. To return to the interview, click on the Step-By-Step icon in the top right of the blue bar.


@Michael16 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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