I've just gone through this hassle and let me save you the trouble - DO NOT USE TURBOTAX IF YOU HAVE EVER SUBMITTED A K-1, EVEN IF IT'S NOT THIS YEAR! Here's a summary:
- TurboTax has not finalized its version of the Schedule K-1 form with the IRS. I don't know whether this affects other tax preparers or just TurboTax, but it seems like it's just Intuit.
- The fist time I checked, they said the K-1 would be finalized on Feb. 14, but now it's been pushed back another two weeks. I don't trust any date estimations at this point, and I don't have time to continue waiting and hoping.
- I don't even have a K-1 to submit this year - TurboTax created the K-1 worksheet automatically for me, apparently based on my return from two years ago - the only time I did have one. You can't even access the K-1 section AT ALL until the form is finalized, EVEN TO REMOVE OR DELETE one. So because TurboTax automatically created it for me, I'm screwed until they get it worked out with the IRS.
- Here's the best part - I had already paid for TurboTax before I received any kind of message about not being able to file yet. I contacted TurboTax customer support about getting a refund now that 2+ weeks have passed and it'll be AT LEAST another two weeks before I can file, and they recommended I go through the "request a refund" steps, like others here have mentioned. However, TurboTax DENIED my refund request because their satisfaction guarantee only applies to the desktop version, not the online version of TurboTax.
In summary, TurboTax gladly took my $128 to file online (which they push you to do), but they can't process returns with a K-1 for at least a month after the filing window opens, and they create K-1 forms automatically based on prior years and there's literally no way to correct this until the form is finalized, and Intuit will not refund your money for any reason if you use the online version, even if it's impossible for them to actually file your return.
I have already filed H&R Block after going through all this (perfectly easy and successfully). I will not be using TurboTax ever again.
