In the event that the K-1 comes back you can use these steps to make it inactive. This will not eliminate the K-1 from this year, but it will stop it from carrying forward in future years.
- 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.
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