Federal Review Error Form 3468

I have the same issue.  Form 3468 keeps reappearing after I delete it. Nothing on the form applies and i want to remove it. The form is blank except for my name info. What could be triggering this to happen.     I checked 'Do not link to any 3486'  on my K1 additional info (Box 20) but that didn't help.

I figured it out.  My K-1 had amounts for Box 20 Code AJ.  After going back to step-by-step turbo tax there was a new screen asking about box 20 other information and it was placing this value into 'basis in gassification..coal project ' which added form 3468.  To fix i changed $ amount in the field above to 0 and entered the amounts at the bottom to other.

I have the same problem and I can't figure it out. I have looked over everything, spending hours. This has never happened before so I think it might be a Turbo problem. I am wondering what happens if I delete the form?

I hope it's as simple as removing Form 3468.  I'm concerned that if the data from K-1 is triggering Form 3468, is it triggering something else we're not aware of?  The last thing I want to do is send in my forms and they trigger an audit. Don't need that headache!

I have reported the issue to Intuit, but have not gotten a response as of yet. I'm hoping they'll release an update that fixes the problem.

I tried deleting it without success. I keeps coming back asking for information. there must be a way to permanently delete it so I can e-file.

This was my case.  Go back to step-by-step and look to see if TT put info here.  If yes move it to other using the description on the k1. Continue.Save file. See if it's gone. If not, delete the form, then save file.  It should go away.  I wouldnt worry about it affecting any other areas. 

How do I get rid of this form 3468 - it does not apply to my taxes but keeps pushing an error on my return.  Can anyone help?

Thanks

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.

@GELewis 

@ERP45 

@Rusty72 

@tpower718 

@PatriciaV 

I removed the AG code and still received the 3468 form error.   

I then deleted the entire K-1 form and re-added it, this time just to try things i removed all the ZZ information and still received the 3468 for error 

Here's a work-around for 1120S Schedule K-1 that might allow you to delete Form 3468:

In the Schedule K-1 interview, choose Box 17 Code ZZ instead of AG. Continue until you see "Enter Other Information Detail." Enter two lines: Label one line "AG - Aggregate Business Income" with the number from Box 17 additional information and the second "AG - Aggregate Business Deductions" (usually a negative number).

Your entries appear on the K-1 worksheet under Box 17 Code AJ to ZZ Line 6.

If you are using TurboTax for Desktop and can use Forms Mode:

Check K-1 S-Corp for this entity. Make sure there are no entries for Form 3468 under Box 13 Credits.

Then delete Form 3468 if it is still on the forms list.

You can use the same work-around for a 1065 K-1 with Box 20 Code AJ

@chow192002 

I'm having this 3468 error issue after having added a new K-1. I had included A, B, & N from line 20. I have not been able to resolve the issue at all. I have completely removed the added K-1 and requested deletion of the  3468 form, but the form error continues, and the form 3468 seems to never go away. I need help.

I received the following reply from Intuit:

"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."

I did this to fix it and it still didn't work. I've been trying to file my taxes since the beginning of February and have been running into delay after delay from turbo tax. Can you please fix this so that I can wrap up my taxes? It's frustrating that I pay all this money to turbotax and it's supposed to be the easier route. Guess I'll be going with a CPA next year.

You're lucky to get all your paperwork so early.  I'm a TT user just like you and struggled a little bit until I figured out what was going on. I know you probably tried it a million times but go to step by step and check again that the screenshot I posted above has no values in any of those fields. That will trigger form 3468 investment credit. Once you remove the values you need to go back to forms, locate the form 3468, then click delete on the bottom of the page, then click save. That's what worked for me. If that doesn't work, create a backup, look around is it possible something else considered investment credit is also adding this form, start deleting things in step by step mode.

Thanks Rusty72 your solution worked. There were some minor errors that popped up I only noticed after I filed. Guess it is up to IRS now. Last Year TT was no problems, this year it's a nightmare. If I had it to do all over again I would have just mailed it.

I have been fighting this form 3468 issue for several hours and finally just deleted the K-1 that apparently caused it. I then deleted the 3468 form and did the federal review again. Guess what. Turbo tax still shows a form 3468 that needs to be filled out. I tried just efiling anyway and Turbotax won't let me. I have been a Turbotax customer for well over 20 years. This is the biggest [Removed] I have ever seen. April 15 is fast approaching so when the hell are you going to fix it??????

Form 3468 is a known IRS issue. If you enter ""TMXXX99XXXXX" on Line 2a, this will allow you to e-file.

@KRSetterlund 

@GELewis 

I have the same problem.  I do not have an AJ entry on my K-1.  I tried removing the form 3468 and it reappeared.  I get two errors on the 3468 that have nothing to do with my K-1.   It wants a IRS issued registration number for the facility.  And the second error wants an amount and description for "Other" on the Code AH to ZZ other information question.  All entries to other questions on this question are 0.  There must be a way to get around this thing

Received this email from TuboTax yesterday aftermppm:

Dear TurboTax customer,

Thank you for being patient while we investigate your issue.

We’re still working on a solution and wee'll send you an email once a fix is in place.

Thank you for being a TurboTax customer.

Sincerely,

TurboTax

This morning there was an update. After updating TurboTax, the same Form 3468 error continues to exist.  Intuit has really blown it on this one!

Is there a newsletter update about Form 3468 we can subscribe to? I have a business return that does not have K-1 to report. The code @PatriciaV  suggested does allow me to e-file, but it's asking me questions about 6-13 but my instructions say only to answer Questions 1-5 & 14, not 6-13.

The reply by Turbo Tax Expert is the correct fix to the problem. Just delete the entry on Line 20 code AB, E. Then proceed, and the questions about linking to form 3468 will not appear because there is no form 3468 being generated by the elimination of the offending Line 20 code entry. For some users, when this is done the form and error remains, just delete the form. I have be using TT for decades and I believe it is a program error. The Tax expert indicated is does not affect the return unless you exceed a large business loss (as I am typing this I cannot read her post for the amount). So the easy answer is just delete the entry and all is well. Did this on four K-1's and her advice works and is correct.
Happy Tax Day.

This programming error on TT is so frustrating.  I am filing a K-1, Form 1065 for the first time and on line 20 I have codes "AJ" and "Z".  Based on the error fixes suggested on TT Community, I removed "AJ" and the amount listed and only have "Z" listed.  Then I went into Easy Step and opened form 3468 (no entries whatsoever as others have experienced).  I can't see how I can delete form 3468.  There's no delete button and the Form doesn't even show up on the left side in Easy Step when I look for it but it's there causing error messages.  I am on the phone with TT as I write this and she is unable to figure it out either.  WHAT TO DO??  Help.

To delete the form, goto forms mode, open the form and on the bottom of the screen is a delete button. 

i am getting error regading IRS REGISTRATION NUMBER FOR THE FACITILY IN LIN 2A FORM 3468, I DONOT  HAVE THIS, I DONOT KNOW HOW TO GET RID FO THAT