K1 - how do I clear/fix a flag when the name of S Corp is requested? My K1 is for a publicly traded partnership, not an S Corp.

[IreneS · Accepted solution]

You may have inadvertently started a K-1 for an S-Corp.

To delete a K-1, you need to delete the “triggers” that caused it to be activated.  You can delete the K-1 in TurboTax Online by following these steps:

1. Click on Federal > Wages & Income [In TT Self-Employed:  Personal > Personal Income > I’ll choose what I work on].
2. Under S-corps, Partnerships, and Trusts, click on the box next to Schedule K-1. 
3. On the Tell Us About Your Schedules K-1 screen.  Click on the Start/Update box next to S-Corporations (Form 1120S).
   
4. You will see the S-Corporation K-1 Summary screen.  Click Delete (trash can icon) next to the name.