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Get your taxes done using TurboTax
There are two alternatives to trying to clear a K-1. Clearing the K-1 should resolve the QBI issue.
Alternative 1:
- Select Wages & Income
- Scroll to S-corps, Partnerships, and Trusts
- Select Schedule K-1
- Choose the type of K-1
- Partnership / LLC (Form 1065)
- S-Corp (Form 1120-S)
- Estate or Trust (Form 1041)
- Continue through the Interview
- If your K-1 was not active or was eliminated in the current tax year, continue through the interview.
- Do not enter anything until you get to: Describe the Partnership
- Select: This partnership ended in 2022.
- This will not delete the K-1 from this year's return, but it will next year.
Alternative 2:
First try to delete the record by selecting the Trash Can on the right side of the record. If this doesn't work, you can follow these steps.
- On the menu bar on the left that shows.
- My Info
- Federal
- State
- Review
- File
- Select Tax Tools
- On the drop-down select Tools
- On the Pop-Up menu select Delete a Form
- This will give you all of the forms in your return.
- Scroll down to the form you want to delete.
- Select the Form K-1
- Click on Delete.
- Always use extreme caution when deleting information from your tax return. There could be unintended consequences.
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‎February 12, 2023
8:05 AM