turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

rlsharp1
New Member

K-1 Calculation Issue

Are there any know calculation issues in TurboTax 2023 online for K-1s? I received a delayed K-1 and am trying to file an amended return. I was an active partner and the K-1 assigns me a loss but TurboTax is saying that I am going to owe money. The new K-1 is the only new information i'm adding to my tax return.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
M-MTax
Level 11

K-1 Calculation Issue

Income from the K1 might have reduced one or more of your credits. Was there other income on the K1?

rlsharp1
New Member

K-1 Calculation Issue

There was interest income and short-term capital gain but like I mentioned overall I was assigned roughly a $500 loss.

M-MTax
Level 11

K-1 Calculation Issue

Was there material participation? You said "active". What about interest and STCG? Those are both taxed at ordinary income tax rates.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies