Adding Shareholder....

[Sunron]

When listing shareholder information, we have 2 shareholders, my wife and I. When adding the information for the 2nd person the program is telling me there had to be a change of ownership to add a second person. This always worked in the past. It's a 50 / 50 split. If I say only one person, the program tells me my percentage is 100 % and I can't change it. I've been using Turbo Tax for Business for 8 years and this is the 1st time this is happening. HELP!!!

[Anonymous_]

I presume you transferred your 2018 return into the 2019 version of TurboTax Business. Unfortunately, some users have experienced an issue when doing so in that one (or more) shareholders, partners, members are dropped (i.e., they do not get transferred to the 2019 program).

The developers are aware that the issue presents itself for some users and are working to rectify the problem.

[Sunron]

Yes, I transferred my 2018 data and it will not allow a 2nd Shareholder as it thinks I sold the business. When do you think the software engineers will get to this. My Tax is due March 15th. 

If I start a new tax and do not transfer my 2018 info will it work? I don't want to start over only to find I wasted my time.

[Anonymous_ · Accepted solution]

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@Sunron wrote:

If I start a new tax and do not transfer my 2018 info will it work? 

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Yes, it will certainly work but, of course, you have to take the time to re-enter everything (business/shareholder information, carryovers, assets, etc.). The problems are (a) the issue does not appear to be affecting all users and, (b) there is currently no date set for a fix.

[mcsbrooks]

I too am experiencing the same problem. I have imported my 2018 taxes and no shareholders came over. I can add one shareholder and it won't let me add another unless I say I had an ownership change in 2019, which I did not. So I am stuck loading in everything by hand? Really?

[Anonymous_]

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@mcsbrooks wrote:

I too am experiencing the same problem. I have imported my 2018 taxes and no shareholders came over. I can add one shareholder and it won't let me add another unless I say I had an ownership change in 2019, which I did not. So I am stuck loading in everything by hand? Really?

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You should check your 2018 return. There are users that contacted TurboTax Support and it was discovered that, somehow, a box was checked in the 2018 program to the effect that a shareholder left the corporation.

[AKoch1]

Are there any step by step instructions for checking or correcting the 2018 return? I have the same problem, and cannot find the box that might have been checked.

[Anonymous_]

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@AKoch1 wrote:

Are there any step by step instructions for checking or correcting the 2018 return? I have the same problem, and cannot find the box that might have been checked.

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I believe the primary problem is a user (or users) indicated that a partner left the partnership (or shareholder left the corporation) which you can check in the partner/member or shareholder section of the program. You need to ensure the ownership percentage did not fall to zero.

[AKoch1]

I opened my 2018 file under Business Info / Shareholder Information and clicked on edit for my two shareholders information. There are boxes below the shareholder data, one of which says: Check this box if this was the last year this shareholder held shares. This box is selected for both shareholders.

Unfortunately, the program will not allow me to uncheck the boxes. (All other boxes on the screen check and uncheck as they should). I will restart the program and hopefully that glitch will pass.

[lxixgolf]

We are having the same issue with TTB 2023.  It won't import the shareholder information from 2022 and when entering manually, it is triggering the change in ownership, which isn't true.

[Anonymous_]

This has been an issue for the past few years.

In some instances it was an input error on the previous year's return while in others the exact cause was not determined.

You can try reviewing your 2022 return to check for errors and correct any, if found, and transfer again or re-enter the shareholder information from scratch. 

Unfortunately, there are few options other than the two delineated.

[darkmatterprops]

I too am experiencing the same issue when importing 2022 tax info for 2023 taxes.  I know we didn't check that box saying a shareholder was leaving so the program is glitching somehow.

[CatinaT1]

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