topic K-1 partnership but it is a sole owner in Get your taxes done using TurboTax

K-1 partnership but it is a sole owner

lizR22 — Wed, 11 Feb 2026 06:57:17 GMT

I am working through my TurboTax and it wants me to put in information for a K-1 for a partnership, but my husband is the 100% owner of the LLC. What do I do to fill in the form, or is it an error, we only just now filed to become an S-CORP for 2024, so I didn't expect the program to give me a K-1 for 2023.

Re: K-1 partnership but it is a sole owner

Mike9241 — Sat, 02 Mar 2024 21:10:05 GMT

there is no K-1 for a single-member LLC taxed as a sole proprietorship and there can be no partnership return because that requires at least two members/partners. Rental activity would get entered on schedule E while other business activity would be entered on schedule C - there is NO K-1 to report. If Turbotax asks about a K-1, you answered some questions incorrectly for 2023. The fact that it will file as an S-Corp for 2024 is irrelevant for 2023.

for 2024 an S-corp return will need to be filed. The requires Turbotax business which offers on-line assistance or desktop do-it-yourself.

Re: K-1 partnership but it is a sole owner

lizR22 — Tue, 05 Mar 2024 01:17:01 GMT

Yes, in going back through, it made some correction. I’m not sure I even changed anything.