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tpribors
Returning Member

K1 is broken for tax year 2024

Import from 2023 return with two K1's of type 2 (real estate) with losses in line 2 resulted in the loss from 2023 in 2022 during the import.  Workaround is to move it to 2024.  Then the error flags missing cells.  workaround was to enter zeros in the forward loss page for all items.   Then the error flagged box 13 Code AE as needing additional breakdown for code W-ZZ that does not even make sense.   Looks like K1 is really broken...

 

I had another K1 of type 1 (business) with only interest that imported with no problems.

 

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5 Replies
tpribors
Returning Member

K1 is broken for tax year 2024

Hello?!  Is anyone from Intuit looking at this?  I spent almost 10 hours on the phone reviewing the "import from 2023" problem and finding a workaround.  To recap, the loss carryover from 2023 was placed in 2022 and the other colums in a intermediate worksheet need to be answered in the interview with 0 instead of blank.   

 

Then the final error checking reported an error in the handling of box 13 code AE that claimed it needed a subtotal calculation in another worksheet for details on "N through ZZ".  None of the items in box 13 are broken down any further than the letter codes.  Again, putting a dummy value in the intermediate made the error go away.   I was told by the person that I worked with on this one that she has had many K1 problem calls and that K1 is in her words, "a disaster".

 

Many people will not accept these workarounds since I'm told that doing them invalidates the audit guarantee. 

 

So please answer:   Will Intuit fix the K1 problem soon?   I will be on vacation starting a week from today and need a fix to this problem so I can file an error free return.

tpribors
Returning Member

K1 is broken for tax year 2024

Also, as widespread as K1 problems seem to be it would seem appropriate for Intuit/Turbotax to broadcast an email to everyone that filed a K1 in 2023 to be on the alert for the final check errors. 

tpribors
Returning Member

K1 is broken for tax year 2024

So I submitted my return with the manual K1 fixes.  It's been three weeks without a refund and I went to the IRS site and it says it is being held for a problem and that I should get something in the mail.  The only thing that could be wrong is with the K1s...  

 

I tried to start a new return using the latest updates as of today (5/4/25) and imported the previous return, and just as before, the K1 data is in the wrong places.  K1 is still broken.  What is Turbotax going to do for those of us that are being called on the carpet???  This is a blatant software bug and if I get "audited" it's Turbotax fault.

 

For the first time since Turbotax came out decades ago you can put me in the unhappy customer bucket.  I (and apparently others, from one conversation with support) reported the K1 problem in early April and it is still broken...

JotikaT2
Employee Tax Expert

K1 is broken for tax year 2024

We at Intuit TurboTax want our users to be completely delighted with their experience using our products and services, and successful in their financial lives and businesses. 

 

Once you file your return, as long as the settings to receive communication from Intuit don’t block it, you will see a pop-up message or receive an email with a survey asking you about your experience. We encourage you to leave your notes and comments there. “Voice of the Customer” notes and comments are read and acted upon.

 

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tpribors
Returning Member

K1 is broken for tax year 2024

That reply full of platitudes is about as useful as "reboot windows" when talking to Microsoft.

 

It doesn't address my problem, and I assume hundreds or thousands of others, who are having problems with schedule K1.  So far there has been no notification, no bulk mailing (you know when people submit a return with K1), and no fix for the problem in the latest release.   I can give feedback all day long, but it doesn't seem to help get the problem fixed or published.

 

Meanwhile, my return is being held hostage presumable for a K1 problem.

 

Thanks for hopefully resolving this issue.

 

 

When will the K1 issues be fixed?

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