remove K-1 and QBI from my file

Forum|Forum|3 years ago
February 12, 2023
1 reply
0 views

We no longer need to fill out K-1s, and likewise with QBI. TT Deluxe keeps asking me that since it imported my 2021 file. Also, it tells me we are eligible for a QBI. No longer the case. How do I get rid of these?

Best answer by JohnB5677

There are two alternatives to trying to clear a K-1. Clearing the K-1 should resolve the QBI issue.

Alternative 1:

Select Wages & Income
Scroll to S-corps, Partnerships, and Trusts
Select Schedule K-1
Choose the type of K-1
1. Partnership / LLC (Form 1065)
2. S-Corp (Form 1120-S)
3. 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.

Alternative 2:

First try to delete the record by selecting the Trash Can on the right side of the record. If this doesn't work, you can follow these steps.

On the menu bar on the left that shows.
1. My Info
2. Federal
3. State
4. Review
5. File
Select Tax Tools
On the drop-down select Tools
On the Pop-Up menu select Delete a Form
This will give you all of the forms in your return.
Scroll down to the form you want to delete.
Select the Form K-1
Click on Delete.
Always use extreme caution when deleting information from your tax return. There could be unintended consequences.

JohnB5677Answer

Level 15

There are two alternatives to trying to clear a K-1. Clearing the K-1 should resolve the QBI issue.

Alternative 1:

Select Wages & Income
Scroll to S-corps, Partnerships, and Trusts
Select Schedule K-1
Choose the type of K-1
1. Partnership / LLC (Form 1065)
2. S-Corp (Form 1120-S)
3. 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.

Alternative 2:

First try to delete the record by selecting the Trash Can on the right side of the record. If this doesn't work, you can follow these steps.

On the menu bar on the left that shows.
1. My Info
2. Federal
3. State
4. Review
5. File
Select Tax Tools
On the drop-down select Tools
On the Pop-Up menu select Delete a Form
This will give you all of the forms in your return.
Scroll down to the form you want to delete.
Select the Form K-1
Click on Delete.
Always use extreme caution when deleting information from your tax return. There could be unintended consequences.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

PaoloochAuthor

Level 4

JohnB,

(Sloop? 🙂 ) Thanks. I followed Alternate 1. When I selected Form 1065, the screen displayed that I received a K-1 in 2021, and asked if I received one in 2022. After clicking "NO," the next screen displayed the K-1s, with an option to delete them. That took care of it.

I share the same concern as you about deleting forms (your alternate 2). I thought about doing that, but decided to post to the community first.