topic Box 12 code on K1 showing as an error in Business & farm

Box 12 code on K1 showing as an error

gbarber52 — Tue, 10 Feb 2026 10:31:22 GMT

The code G is correct and there was no problem with it last year.
When I go to forms in the desktop version of TT it is red and when I delete the G it is okay, but then it does not match what is on my K1.

Re: Box 12 code on K1 showing as an error

JulieS — Wed, 28 Feb 2024 20:43:39 GMT

We'd love to help you complete your tax return, but need more information. Can you please clarify your question?

What type of K-1 do you have 1065, 1041, or 1120-S?

Re: Box 12 code on K1 showing as an error

gbarber52 — Thu, 29 Feb 2024 17:10:32 GMT

We have an 1120S K-1 and I see the error message when I go to forms and if I take the code G out when I run the Federal review I get the message that I need to enter a code. I looked back at the 2022 return and code G was used there with no issues. Thanks for any help you can provide.

Grace

Re: Box 12 code on K1 showing as an error

gbarber52 — Thu, 29 Feb 2024 17:28:54 GMT

Sent a reply but not sure if it went directly to your message or a reply to my own original message.

Re: Box 12 code on K1 showing as an error

gbarber52 — Sun, 03 Mar 2024 23:33:59 GMT

K-1 1120S

Re: Box 12 code on K1 showing as an error

PatriciaV — Tue, 05 Mar 2024 18:45:52 GMT

According to the Tax Help within TurboTax, Box 12 Code G is not supported for Qualified Conservation Contributions or any other 100% charitable deduction. The program allows for up to 60% of income for cash contributions or 50% for non-cash contributions.

Your options are to use Code A for 60% Cash Contributions or Code C for 50% Noncash Contributions. (Note that code C is not fully implemented in the current version but should be in a later update.)

The contributions amount you enter from Schedule K-1 flows to Schedule A on your personal tax return. If you don't have enough other deductions to be over the standard deduction, how you report charitable contributions would have no effect on your taxable income.

Re: Box 12 code on K1 showing as an error

gbarber52 — Tue, 05 Mar 2024 19:49:24 GMT

Thanks for the reply and if no longer supported I wonder why the code is still in use by those who prepare the K-1s - will check with the accountant who prepared this.

Re: Box 12 code on K1 showing as an error

PatriciaV — Tue, 05 Mar 2024 20:13:48 GMT

The Code G limitation may be specific to TurboTax, since it is valid for Box 12 per the IRS Instructions for 1120S K-1.

Re: Box 12 code on K1 showing as an error

hjones022 — Sat, 09 Mar 2024 15:58:38 GMT

This is still showing as an error when I do a review of my federal taxes and says that K-1 S corp Box 12 code c is still under development and will be available by March 6th. I've called Turbox tax, removed and re-added the K-1 forms, updated my oeprating system and it's still showing an error. Any suggestions or is turbo tax working on this bug?

Thank you.

Re: Box 12 code on K1 showing as an error

PatriciaV — Sun, 10 Mar 2024 20:39:45 GMT

The IRS made significant changes in Schedule K-1 for tax year 2023, adding dozens of new codes for several boxes, including new requirements for Form 8283, Noncash Charitable Contributions, which affect Schedule K- 1 Box 12 Code C.

Our programmers have been working to implement those changes for personal returns, connecting the new codes to appropriate Form 1040 lines and forms. Form 8283 is estimated to be ready by March 20, 2024.

Because updates are released after business hours Pacific time, we recommend you wait to update your software the next day, run Review again.

@hjones022

Re: Box 12 code on K1 showing as an error

hjones022 — Sun, 10 Mar 2024 22:30:01 GMT

Thanks for the update - I'll wait until March 21st to re-check. Really appreciate the reponse!

Re: Box 12 code on K1 showing as an error

BMT2 — Tue, 12 Mar 2024 19:49:04 GMT

I'm getting the same error when entering the information from my K1. I created this K1 using Turbotax Business 2023 and it should represent the cash donations my business made during the year. I didn't choose the code G for this item, it does it automatically. Any suggestions on how to fix this from either side? Is there a better code that represents cash contributions that are passed through via K1s?

Re: Box 12 code on K1 showing as an error

gbarber52 — Tue, 12 Mar 2024 19:59:08 GMT

I ended up using code A and it worked and carried over to my schedule A. The accountant that prepared our K-1 said this - I believe she could use the code for 60% and be just fine. Most charity is 60%, which means that your charitable deductions in total are limited to 60% of your adjust gross income. Hope this helps.

Re: Box 12 code on K1 showing as an error

hjones022 — Tue, 12 Mar 2024 23:26:52 GMT

Thank you - that's super helpful! I may just wait until March 20th, but it there's still a problem - I'll go with your recommendation. Thanks again.

Re: Box 12 code on K1 showing as an error

shelenid — Thu, 21 Mar 2024 14:08:50 GMT

Is there a new estimated date of availability for Schedule K-1 1120S Box 12 Code C? I am still getting an error this morning.

Re: Box 12 code on K1 showing as an error

PatriciaV — Thu, 21 Mar 2024 19:42:50 GMT

No, we don't have an update for the estimated release date. However, the work-around for this issue is to omit your K-1 entry for Box 13 Code C. Instead, enter it directly into the charitable contributions section under Deductions and Credits on your federal return. This is where the entry from Schedule K-1 would ultimately be reported.

@shelenid

Re: Box 12 code on K1 showing as an error

hjones022 — Sun, 24 Mar 2024 21:13:50 GMT

I understand that is a workaround, but won't this be flagged by the IRS because you are not reporting a box checked on your K-1 on your tax returns? That seems like an unecessary risk. Is there an update on when this will be ready? 7 days until the "end of March". I've been waiting to file my taxes since February 15th because of this one item.

Re: Box 12 code on K1 showing as an error

PatriciaV — Mon, 25 Mar 2024 14:18:31 GMT

The IRS doesn't see the entries labelled as coming from Schedule K-1. Instead, the numbers entered from a K-1 flow to other appropriate forms in your return. In the case of Box 12/13 Code C, the contributions are reported on Schedule A. So, omitting the K-1 entry and making a directly entry under the Contributions topic is an acceptable short-cut.

We do not have an updated estimate for the release of this fix. The date quoted in your return is the official estimate.

@hjones022

Re: Box 12 code on K1 showing as an error

hjones022 — Sat, 30 Mar 2024 01:37:19 GMT

It looks like Box 12 code C is now working and I was able to try to e-file my taxes. However, the IRS rejected my taxes because it says I need a form 8283 - I entered all of the information for this in the K-1 section of TT. When I go to fix my return, TT says:

Description of error:

There is a potential issue with the calculation regarding donations reflected on a K-1 (S Corporation of Partnership/LLC).

What needs to be done:

We've identified an issue in your federal tax return. This issue is being resolved in a product release scheduled for April 5th, 2024. On or after that date, you'll need to sign into TurboTax, complete a quick review (steps below), and resubmit your return. This is just for your federal 1040 tax return. To review and re-submit your return: 1) Sign in to your TurboTax account. 2) Review each K-1 under Income 3) Confirm the selections for Other Deductions (Box 12 for S S Corporations and Box 13 for Partnerships/LLCs) 4) E-file your return (you won't be charged any additional fees). Note: The calculation change may affect the taxpayer's refund or balance due.

I do not understand why this is still an issue - I've been waiting since February 15th to file my taxes. Is anyone else having this issue?

Re: Box 12 code on K1 showing as an error

LB81 — Tue, 02 Apr 2024 01:46:47 GMT

Schedule K1 Box 12 - Code A - charitable contributions are not flowing through to Form A - Itemized Deductions. The amount was properly flowing through last week until I updated Turbo Tax and now the only way to get the amount to flow through is to use the drop down box to select Code B which is actually a lower threshold. Had I not caught what appears to be a program error, this would have cost me over $2,000 in additional, incorrect taxes. I thought Turbo Tax had a 100% calculation guarantee?