What I've discovered is that by reversing the information under "BUSINESS INFO", "Partner/Member Information" will help to populate the information correctly on the K-1's. Therefore, put in the Beneficial owner's name in the Member's Name section, along with his/her SS#, etc. From there, click DE and continue. Under the Beneficial Owner's name, enter the name of your DE. HOWEVER, this is not a complete fix. When you run error check at the end, it will tell you that the DE's TIN is incorrect. I just did an override to blank it out and then it worked and I was able to file and transmit the returns. At the worst case scenario, the IRS will ask for the TIN's...maybe. 😉
On a side note, I am also trying to file a S-Corp return for NYS for another company and apparently, it's not available yet. I called Turbo Tax and the representative didn't even know the difference between a Federal and State return! If Turbo Tax keeps hiring unqualified people, it will certainly lose a lot of business.
