K1 and Basis of gassification - What is going on here!?!

[vossko]

I finally got the "check return" stage for my taxes.

I keep getting errors asking me to enter the "basis of gassification" for my K1 limited partnerships. These are not oil and gas business. Other posts seem to suggests that this triggered by entering Box 20 Code AJ information.

When is Intuit going to fix this? This seems like an absolutely egregious bug. Every year turbotax gets worse and worse, but if this isn't fixed in the next week so I can file this will have to be the last year for me. Looks like I'll be filing an extension and finding another preparer. Is Intuit actually just trying to funnel us to paid professionals.

Before I give up, does anyone have a solution that at least gets me through this years return?

[PatriciaV]

The incorrect identification of Box 20 Code AG/AJ will be addressed in a forthcoming update. We recommend signing up to be notified when the update is released: Why am I receiving an error in TurboTax for Schedule K-1 Box 20 when code AJ is selected?

However, since this information will be used only if your net losses from all businesses are more than $289,000 ($578,000 if filing a joint return), you have the option to omit the code and the amount(s) from Schedule K-1.

[vossko]

When is this going to be fixed? I mean really, we are 3 weeks out from filing. This is not a subtle error. It is just an amateurish programming mistake that should be trivial to fix. Seriously, how is it possible for such a ridiculous bug to take so long to correct? If anyone on my engineering team functioned like this, they would be fired within the week.

I tried the updates this morning and still no fix. Please indicate which day before April 15th this flaw will be fixed so all of us can use our time more effectively or file extensions and  seek other options.

[vossko]

Oh, and by the way, your advice, "However, since this information will be used only if your net losses from all businesses are more than $289,000 ($578,000 if filing a joint return), you have the option to omit the code and the amount(s) from Schedule K-1."

DOESN'T WORK...so I still can't file, even if I omit code AG/AJ I still get prompted for the "basis of gasification".

[vossko]

No matter what I do I am unable to file. Thanks Intuit!

I cannot get past the final check stage when I go to e-file. This outrageous error keeps sending me back to fill out more and more lines of the K1 worksheet. Doesn't matter if I eliminate all the K1 AH-ZZ codes or not.

UNBELIEVABLE!

FIX THIS!

[spaloni]

This is ridiculous come on Turbo Tax fix this!!!!!!!!!!!!!!!

[PatriciaV]

Have you tried deleting the K-1 and re-entering the information again? A recent update should have resolved this issue, but it may not apply to an existing K-1.

After you delete the K-1 and before you re-enter, check to see if Form 3468 remains in your return. If so, delete that form before you re-enter the K-1.

Additional Information:

• How do I view and delete forms in TurboTax Online?
• How do I delete a tax form in the TurboTax CD/Download software?

@vossko 

@spaloni 

[Bwhitehead]

Thank you for reporting this bug. I was getting the same thing and losing my mind. Now at least I know I am sane and there is a bug in TurboTax.

Now I will read on and see if anyone has a recommendation to get around this. TurboTax says to bypass electronic filing and mail it in. That really leaves a lot to be desired

[Bwhitehead]

I had tried deleting the entire K-1, and starting over. No luck.

It seems to be something with the box 20 codes that are more than one letter. For example, AJ. I got it to work when I deleted out some of the double digit code entries. But I am not sure that is a prudent thing to before actually filing.

[PatriciaV]

The work-around for this issue is to delete both Schedule K-1 and Form 3468 (in that order) before you re-enter the K-1 information. In most cases, the recent updates prevent the gasification link, but this may not work for existing K-1 entries in returns with Form 3468.

To resolve this issue, follow these steps:

1. Using the links below for instructions, delete K-1 Partner [name of partnership] and Form 3468 from your return.
2. Return to the K-1 Summary page.
3. Re-enter Schedule K-1 and check Box 20. 
4. Enter only one line for Code AJ and do not enter an amount.
5. Continue to the page that asks for Other Information Detail. Enter a description and amount separately for both lines from Code AJ.
6. Run Review/SmartCheck.
7. If you receive a request for the registration number, enter TMXXX99XXXXX. 
8. Delete Form 3468 again.
9. Run Review/SmartCheck to confirm the error has been resolved.

These steps are easier if you are using TurboTax for Desktop, as you can make edits directly in the forms and easily see what forms have errors (red exclamation marks). But it can be done in TurboTax Online.

Additional Information:

• How do I view and delete forms in TurboTax Online?
• How do I delete a tax form in the TurboTax CD/Download software?

@Bwhitehead 

[eszapiro]

Nothing listed here works in any way.  What do I have to do?  File for an extension until this gets figured out?

[PatriciaV]

Please clarify if you have followed the recent instructions to delete both Schedule K-1 and Form 3468. This issue has been resolved for most TurboTax users.

@eszapiro 

[eszapiro]

Yes we did everything listed above.  I was on live with a tax expert too for several hours. 

[PatriciaV]

It would be helpful to have a TurboTax ".tax2023" file to research this further.
@eszapiro 

You can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, please follow these instructions: 

In TurboTax Online, open your return, go to the black panel on the left side of your program and select Tax Tools. 

1. Then select Tools below Tax Tools. 
2. A window will pop up which says Tools Center.  
3. On this screen, select Share my file with Agent. 
4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. 
5. Reply to this thread with your Token number and tag (@) the Expert requesting the token from you. 
6. Please include any States that are part of your return.  

We will then be able to see the same experience you are having. If we are able to determine the cause, we'll reply here and provide you with a resolution. 

If you are using TurboTax for Desktop, go to Online in the top menu, then choose "Send Tax File to Agent." On a Mac computer, choose File >> Share or Help >> Send to Agent.