Is the K-1 issue for use in personal returns a TurboTax software problem, or something else? My corporate returns were done already producing the K-1.

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The IRS made significant changes in Schedule K-1, adding dozens of new codes for several boxes. The TurboTax software team has finalized and released the updates for business returns to meet the March 15 filing deadline. They have since been working to implement those changes for personal returns, connecting the new codes to appropriate Form 1040 lines and forms.

The Forms Availability Table lists Schedule K-1 for the update due February 21, 2024. Because updates are released after business hours Pacific time, we recommend that you wait until the next day to update TurboTax (if using the desktop version) then retry the K-1 entries.

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