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TurboTax for 2024 taxes has 2023 K-1 fields but IRS changed the K-e1 form Jan 2025 and fields do NOT match
TurboTax for 2024 taxes has 2023 K-1 fields but IRS changed the K-1 form Jan 2025 and TurboTax K-1 fields do NOT match. For example, block 17 is no longer block 17, it is block 20 and the codes have changed. For QBI, you now enter Z instead of V and 199 info, but it is in block 20. Here is a link to the new form, Schedule K-1 (Form 1065) 2024: https://www.irs.gov/pub/irs-pdf/f1065sk1.pdf
March 22, 2025
7:34 PM