topic Final K1 Box is Checked in Get your taxes done using TurboTax

Final K1 Box is Checked

mrjeffbarnes — Wed, 31 Mar 2021 20:47:11 GMT

On all of the K-1s I am sending to partners of my company, it shows that the "Final K1" box checked. However, in the software I made sure that we never said the business closed. So why are all the boxes checked for "Final K1"?

Re: Final K1 Box is Checked

Anonymous_ — Wed, 31 Mar 2021 21:23:55 GMT

Are you using TurboTax Business to prepare a 1065?

If so, did you indicate the partnership was filing its final return or that the partners left the company?

Check both in the Business Info tab.

Re: Final K1 Box is Checked

mrjeffbarnes — Wed, 31 Mar 2021 21:33:42 GMT

Using TT for Business, and did NOT indicate it was final. Not sure why it's checked.

Re: Final K1 Box is Checked

Anonymous_ — Wed, 31 Mar 2021 21:39:15 GMT

@mrjeffbarnes

Check the entries on your Information Worksheet, 1065, K-1 Worksheet, et al, in Forms Mode.

Re: Final K1 Box is Checked

mrjeffbarnes — Wed, 31 Mar 2021 21:44:44 GMT

that's what I had to do to uncheck those boxes. thank you.

Re: Final K1 Box is Checked

dolphnluvr85 — Sun, 27 Mar 2022 21:50:49 GMT

How do I do this if I am amending the return? When I'm in there, and I choose the forms, it won't let me uncheck final.

Re: Final K1 Box is Checked

Anonymous_ — Sun, 27 Mar 2022 22:28:54 GMT

Most likely you will have to make a manual adjustment (if you cannot do a hard override).

It does not much matter since you will have to print and mail the return regardless.