topic Same problem with 2017 in Get your taxes done using TurboTax

How to import a K-1 txf file and merge it with carryforward information from last year

miklbenoit — Wed, 05 Jun 2019 00:19:28 GMT

My work-around is to copy the section A1a(b) and B1a(b) s...

TaxHacks — Wed, 05 Jun 2019 00:19:30 GMT

My work-around is to copy the section A1a(b) and B1a(b) suspended loss carryover from the older form to the newer form. Also copy the capital account Part II, if you like. Then delete the older form. The new one is first in the forms list.

In prior years, the TXF info would combine with the remembered K-1. For 2016, unfortunately, I get a duplicate as I expect you do. The new file has the downloaded data, and the old one has the carryovers.

It would be nice if somebody has a better answer.

I later had 2 TXF files import and merge with the existin...

TaxHacks — Wed, 05 Jun 2019 00:19:31 GMT

I later had 2 TXF files import and merge with the existing k1 including carryovers. Did they fix, or was there something different in the downloads? I don't know.

Same problem with 2017

warrenpv — Wed, 05 Jun 2019 00:19:33 GMT

Same problem with 2017

I had one with this problem for 2017 and others that carr...

TaxHacks — Wed, 05 Jun 2019 00:19:34 GMT

I had one with this problem for 2017 and others that carried the carryovers without having to work around.

Re: How to import a K-1 txf file and merge it with carryforward information from last year

lambda13 — Sun, 04 Apr 2021 04:52:26 GMT

I think I stumbled onto the solution here. The problem is you have to know the solution before you cause the problem! This is what worked for me:

DO NOT VISIT THE K-1 SECTION OF THE INTERVIEW UNTIL YOU HAVE **IMPORTED** THE TXF FILES!

Yes, if you import the .txf file before you even give TurboTax the chance to ask you if you want to deal with your K-1's, TurboTax appears to correctly import the .txf file, then later merge the carry-over amounts from the prior years correctly.

I have always delayed dealing with the K-1's until the very end. DON'T! Because this year I happened to visit just 1 K-1 prior to importing several, and that was the only K-1 I had to copy numbers to do a manual merge. My other 2 appear to have worked perfectly.

Now, if we could just get TurboTax staff to insert a question to the user prior to reaching that section of the interview "Have you already imported your K-1's?".

Re: How to import a K-1 txf file and merge it with carryforward information from last year

Markttax — Tue, 21 Mar 2023 13:23:32 GMT

I have the same issue for my 2022 return. I even used the same file name as 2021 and that did NOT work. Does TurboTax have any response???

Re: How to import a K-1 txf file and merge it with carryforward information from last year

CarissaM — Tue, 21 Mar 2023 17:21:52 GMT

You are commenting on a thread from 2 years ago. What is the error you received when you tried to import?

If you would like immediate assistance, please click here to contact us by phone. @Markttax

Re: How to import a K-1 txf file and merge it with carryforward information from last year

wilsonced — Sat, 23 Mar 2024 19:19:21 GMT

I have restarted TurboTax 3 times from scratch trying to figure this out. I have 2 K-1s for companies I bought in 2022 (or before) and sold in 2023. In both cases I have tried importing the K-1s, as well as my brokerage statements, prior to entering any data (other than identity information, filing status and dependents). When I get down to the K-1 section, I have FOUR K-1s, the two for 2023 I just downloaded, and 2 separate ones carrying over information from last year. Is the only answer to avoid importing K-1 data if you have held that security in multiple years? It does not appear TurboTax is doing anything to fix the problems with K-1s.

Re: How to import a K-1 txf file and merge it with carryforward information from last year

CatinaT1 — Wed, 27 Mar 2024 14:39:56 GMT

Please call TurboTax Customer service.  Here is a link:  Turbo Tax Customer Service