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Level 2
February 2, 2022
Question

Problems Adding Partners/Members using Turbotax Bussiness

  • February 2, 2022
  • 1 reply
  • 6 views

I am having problems adding additional members/partners to my 2021 turbotax return using the turbotax business CD version.  I reached the point where I add the partner/member information. I have imported the business information from my 2020. Turbotax asks me to add member information, and I enter the first managing member, adjust the ownership amount to the amount the manager has and complete their entry. When I go to add the next member, Turbotax asks me if there has been a change in ownership.  I click no, as there has not been a change in membership, but turbotax will not let me add the second and third member/partner. Previos version red in the member partner info from the previous year.  Is there a way to add the additional member/partners without declaring a change in ownership?  Thanks

1 reply

Level 15
February 2, 2022

Have you checked your previous (2020) 1065 and K-1s?

 

There have been issues where prior returns did not transfer correctly due to a member being deleted or a K-1 being marked as final.

Level 15
February 2, 2022

Also, there is a change if you are adding (or subtracting) partners or members.