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Investors & landlords
The "Final K-1" box means that this is the last K-1 you will ever receive from the partnership: that you've exited it and are done. That's why TT is trying to get you to explain how that happened (sold shares, it merged, etc). It doesn't sound like you should be checking that box if you haven't actually ended the partnership.
If you go through the K-1 in interview mode, rather than making changes directly on the Forms, TT will decide if any of these boxes need to be checked.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
May 2, 2021
11:54 AM