Schedule K-1, Form 1120S, Box 13 -- stuck on two problems

Forum|Forum|4 years ago
February 26, 2022
3 replies
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I've entered a K-1 for S Corp that has no amount in Box 13. Two problems:

#1. During Smart Check, it flags form 1120S (Schedule K-1 S Corporation Additional Information), Line 13, Code E, Line 1, as required entry. No credit is being taken, thus it must be blank. Can't find a way around it.

#2. While trying to trouble-shoot problem #1, discovered another issue. During the K-1 interview where it asks to check which boxes have information, Box 13 can be checked, but it can't be unchecked . It does not toggle checked/unchecked. (This characteristic is also true for Box 12, but that may be by design -- I don't know.)

Need assistance. Will not reenter this entire K-1 only to find the same issue. If no response here, I'll try the help center, but not looking forward to that.

Best answer by Fred Coale

Found a solution: Deleted the K-1 and re-entered it. - Thanks,

(Footnote: The "problem" K-1 was built from a transfer of last year, but I checked last years return, nothing in Box 13, so that's not likely a cause. Anyway, starting from scratch did the trick.)

AliciaP1

Alumni - Intuit

The one issue causing both problems is that you have chosen a code for a blank line. You need to remove code E from box 13 so there is no identifier claiming information for box 13 then you will be able to go back and uncheck box 13.

To do this in TurboTax Online you can follow these steps:

Within your tax return click on Income and Expenses at the top of the screen
Click Edit/Add for your Schedule K-1
Click Update for S corporations
Click Edit for the K-1 that has this issue
Answer any questions and Continue through the screens until you get to Enter Box 13 Info
Change the dropdown that shows code E to the blank line at the top of the dropdown
Use the Back button to return to the Check Boxes That Have an Amount screen
You can now uncheck box 13

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Fred CoaleAuthor

Level 2

Didn't work. I got the Box unchecked (probably caused by a left over test), so now: Box 13 is blank (unchecked), no codes/amounts have been entered from the interview, yet Smart Check is requiring an amount line 1.

I'm using the desktop version (not online, as referenced in your solution) if that makes a difference.