topic The S-Corporation K-1 forms that Turbotax has loaded into turbotax premier are the 2019 versions. When will the 2020 version (with sec 179 deduct in box 12) be uploaded? in Business & farm

The S-Corporation K-1 forms that Turbotax has loaded into turbotax premier are the 2019 versions. When will the 2020 version (with sec 179 deduct in box 12) be uploaded?

scorpmissouri — Wed, 03 Mar 2021 05:46:03 GMT

Re: The S-Corporation K-1 forms that Turbotax has loaded into turbotax premier are the 2019 versions. When will the 2020 version (with sec 179 deduct in box 12) be uploaded?

Anonymous_ — Wed, 03 Mar 2021 15:25:41 GMT

The schedule is showing as having been released for 2020.

See https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

Re: The S-Corporation K-1 forms that Turbotax has loaded into turbotax premier are the 2019 versions. When will the 2020 version (with sec 179 deduct in box 12) be uploaded?

scorpmissouri — Fri, 05 Mar 2021 05:51:21 GMT

The issue is that TurboTax didn't actually update the form to the revised 2020 version in the software. It is still the 2019 version - if you have an ownership stake in an s-corporation and received a K-1 you can't complete your taxes until they correct this issue. Someone from intuits investigations team contacted me and they're working on fixing it in case other business owners encounter this and come across this post.