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New Member
posted Feb 28, 2023 12:17:51 PM

Why does TurboTax keep asking me about a Schedule K-1 partnership when I sold that fund several years ago?

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2 Replies
Level 15
Feb 28, 2023 12:20:55 PM

Probably a Schedule K-1 was included as part of your prior year return and transferred over to 2022.

 

Delete the Schedule K-1

 

Click on Tax Tools on the left side of the online program screen

Click on Tools

Click on Delete a form

Level 15
Feb 28, 2023 12:24:17 PM

You might have to delete it this way.  Go to the K-1 interview section here

Federal

Wages and Income

Then scroll way down to Business Items

Schedules K-1, Q - Click the Start or Update button

 

If the first screen says "Do you want to review Schedule K-1?". You have to answer YES and then click Update by  the Schedule K-1 type (LLC, S corp, trust). The next screen is the Summary screen listing all of the K-1 entered for that type of entity.  You can review, edit or delete it there.

 

One user found he had to add a fake name first.....

I figured out that I had to actually start fixing this problem by entering a fake K-1 name to the TurboTax request and then going back to the "Update the Schedule K-1" and deleting the fake K-1 name.