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jblande
New Member

I have no K-1 this year but TT tells me I failed to enter K-1 data. What is going on?

If I don't have K-1 why am I being told I have an error for failing to enter Sub S company name, data?

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Accepted Solutions
ToddL
New Member

I have no K-1 this year but TT tells me I failed to enter K-1 data. What is going on?

The program does this to make sure you don't forget to enter information (e.g. K-1 income, expenses, credits, deductions) that you had entered in previous years.

If you think you might have this K-1 in the future, you can just enter "0"s in  any fields the program asks about. It won't affect your return and the information will be saved for next time you get this K-1.

If you won't be getting this K-1 again, you can delete it (Schedule K-1 Wksheet - S-Corporation) in Forms View of your TurboTax desktop program. If using a TurboTax Online program, see: How do I delete forms in TurboTax Online?

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1 Reply
ToddL
New Member

I have no K-1 this year but TT tells me I failed to enter K-1 data. What is going on?

The program does this to make sure you don't forget to enter information (e.g. K-1 income, expenses, credits, deductions) that you had entered in previous years.

If you think you might have this K-1 in the future, you can just enter "0"s in  any fields the program asks about. It won't affect your return and the information will be saved for next time you get this K-1.

If you won't be getting this K-1 again, you can delete it (Schedule K-1 Wksheet - S-Corporation) in Forms View of your TurboTax desktop program. If using a TurboTax Online program, see: How do I delete forms in TurboTax Online?

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