topic Where do I enter that my K-1 has the Final K-1 box checked? in Business & farm

Where do I enter that my K-1 has the Final K-1 box checked?

yellowhound123 — Tue, 23 Mar 2021 16:20:56 GMT

The prompts never asked this question and I recall that the software has asked that question in prior years. Is this a glitch in the 2020 software? I see that the Final K-1 box check exists in the worksheets but it doesn't let me edit that worksheet, it appears to be read-only.

Re: Where do I enter that my K-1 has the Final K-1 box checked?

PattiF — Tue, 23 Mar 2021 16:50:07 GMT

Yes, if you received Schedule K-1 marked "Final," you may report that the partnership dissolved.

Be sure you edit the partnership information under the Schedule K-1 topic and mark that the partnership ended. The program will then ask you how you disposed of the investment.

Re: Where do I enter that my K-1 has the Final K-1 box checked?

yellowhound123 — Tue, 23 Mar 2021 17:08:06 GMT

That worked perfectly, thanks so much!