To delete information from Box 20 of a K-1, please follow these steps:
- Click on Federal > Wages & Income
- In the S-Corps, Partnerships, and Trusts section click on the box next to Schedule K-1.
- Click Yes on the next screen, Did you receive any Schedules K-1?
- On the Tell Us About Your Schedules K-1 screen. Click on the Start/Update box next to Partnerships/LLC (Form 1065)
- If you have already entered K-1 information, you will see a Summary screen. Click Edit next to the K-1 you want to change.
- Continue to the screen, Check Boxes That Have an Amount. If you want to delete all information on box 20, unmark the box.
- If you want to modify Box 20, leave it marked and click Continue.
- On the next screen, Enter Box 20 Info, you can make your changes.
- If you want to delete an entry, delete the amount and select the blank line at the top of the list in the Enter Code box. Click Continue.
