topic Last K-1 for LLC member inhibits access to contributions and distributions for that member in Business & farm

Last K-1 for LLC member inhibits access to contributions and distributions for that member

lw15 — Mon, 09 Mar 2026 05:47:08 GMT

When going through step by step process if select 'last K-1' for and LLC member, TT simply returns to the list of other members and does not proceed to the screen where can enter contributions and distributions for the year. However, if 'uncheck' the 'last K-1' box can proceed to enter the other data, then go back and check the 'last K-1' box without losing the contribution and distribution data.

Re: Last K-1 for LLC member inhibits access to contributions and distributions for that member

Anonymous_ — Thu, 17 Feb 2022 23:50:04 GMT

Does that appear in Forms Mode on the K-1?

Re: Last K-1 for LLC member inhibits access to contributions and distributions for that member

lw15 — Fri, 18 Feb 2022 15:48:05 GMT

If fill in the contribution and distribution information before checking the 'last K-1" box everything (including the last K-1) information appears correctly on the K-1 in forms mode.

Re: Last K-1 for LLC member inhibits access to contributions and distributions for that member

Anonymous_ — Fri, 18 Feb 2022 15:58:59 GMT

That should be fine, then, but are there any red exclamation marks next to the forms in your forms list?

Re: Last K-1 for LLC member inhibits access to contributions and distributions for that member

lw15 — Sat, 19 Feb 2022 14:04:44 GMT

No errors (red exclamation marks) shown in Federal part of forms view and passes federal review process OK.

There is a totally unrelated error in the state section for Form 1065-V not being finalized. That is the same issue had last year where the final form wasn't available, but couldn't print the rest of the state forms and simply download that form from the IL website. (Have to mail IL form in anyway versus efile.)

Re: Last K-1 for LLC member inhibits access to contributions and distributions for that member

Anonymous_ — Sat, 19 Feb 2022 15:00:21 GMT

@lw15 wrote:

No errors (red exclamation marks) shown in Federal part of forms view and passes federal review process OK.

Excellent.

The IL forms are print only so that makes sense and the 1065-V should be available next week.