Infinite Loop in K-1 entry

Forum|Forum|4 years ago
April 22, 2022
2 replies
25 views

I had entered several K-1's into TurboTax. I just went back into TurboTax and came to a page that says:

Let's Check This Entry

It lists a specific K-1 that I had entered, and then says:

We noticed you have a K-1 that has no entries. We'll need to ask you a few more questions to make sure we get this right on your return.

I click on "I'll do this now" and continue. I edit the K-1 that it is referring to, and check my answers and everything is entered correctly. When I finish, and I click 'Done', it brings me right back to the same page that says: Let's Check This Entry

And, I'm in the infinite loop.

I'm not sure what the problem is. However, there are only 2 boxes filled out on my K-1: boxes 1 and 14. Both say "0", and box 14 has the code 'A'. These are filled out in TurboTax.

How do I fix this?

Best answer by nexchap

@mellynlee The information about your capital account (i.e., Capital contributed...) isn't used by TT. Its just for your records. So the K-1 isn't affecting your taxes in any way, which is why you can delete it. Next year, it will probably have more information in it, and you'll enter it then.

nexchap

Level 9

A K-1 with nothing but $0s doesn't need to be entered. You can delete it.

**Say "Thanks" by clicking the thumb icon in a post. **Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user. . Use any advice accordingly!

mellynleeAuthor

Level 6

I forgot to mention that I also had entered a positive number for "Capital contributed during the year" (which is not 0), so I can't just delete this K-1.

However, I did try deleting it, and entering everything again, and right after I click Done, it comes back to the page that says "Let's Check This Entry"

and I'm back in the Infinite Loop....

Any other ideas?

nexchap

Answer

Level 9

**Say "Thanks" by clicking the thumb icon in a post. **Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user. . Use any advice accordingly!

J Frank Parnell

Level 2

When is Intuit/Turbotax going to actually fix this problem instead of foisting it off on some unknown community member to give the advice to delete the form? This has been going on for years now that this K-1 infinite loop has been happening and still nobody has fixed it. Turbotax should be asking for you to enter or import your information. When it gets to the end of the questions and realizes that everything is zero because no gains or losses were realized for that tax year, it should either submit the form as zeroes, or delete the form for you. It should not be going right to the start again and ask you to go through everything, only to return to the exact same point you started from.