turbotax icon
turbotax icon
turbotax icon
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Disregarded Entity Taxpayer ID on form K-1

The taxpayer ID for a disregarded entity who is an individual is supposed to be that person's SSN. However, TurboTax for Business 2020 goes into an endless error "do loop" on the K-1 for my disregarded entity. 

Line E of the K-1 is supposed to be blank. However TT puts the SSN for the partner in Line E AND in Line H2. I am not able to delete the SSN from Line E, nor can I fix this by revising the Partner worksheet.

I need help from TT to fix this.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Disregarded Entity Taxpayer ID on form K-1

if it's a disregarded entity - single-member LLC or sole proprietorship - there is no federal tax return for it. income and expenses are reported directly on schedule C (non-rental activity) or schedule E (rental activity). your state might require a tax return if it's an LLC 

 

if it's a partnership or multimember LLC (same as a partnership), it is not a disregarded entity. a 1065 must be filed,

 

Disregarded Entity Taxpayer ID on form K-1

the issue is NOT the tax return of the disregarded entity. the issue is the partnership with a partner that is a disregarded entity. The SYSTEM called TURBO TAX will not allow me to enter the taxpayer id of the partner that is a disregarded entity. This was not an issue in past years versions. I need a way to get TURBO TAX to fix this.

Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies