Delay due to Schedule K-1 Trust form not yet ready

[chl11942]

When I click the link to print the pages for filing my 2020 federal tax return, TurboTax (TurboTax Deluxe Desktop) tells me there is an error in my return and that I cannot file my return yet.

The “error” is that a Federal K-1 Trust form will not be available until February 25.

I have received the Schedule K-1 from the attorney who filed the Form 1041 for a deceased parent’s estate.  The trust was a single calendar year trust, and the Form 1041 is the final return for the trust.

There were only 2 entries on the Schedule K-1 I received.  Both were Box 11 items.  TurboTax has correctly picked up both of these items and entered them in Form 1040 Schedule 1, Line 22 and Form 1040 Schedule D, Line 12 respectively.  

TurboTax also prepared a Schedule E, Page 2 for the trust.  The only entry on Schedule E is a line in Part III with the trust’s Name and its EIN.

I do not understand why I need to wait for TurboTax to provide a Federal K-1 Trust form before I file my tax return. 

[chl11942]

Here is some additional information for my question.

I went back to TurboTax for my 2019 tax return (TurboTax Deluxe Desktop) and entered fake Schedule K-1 values that were similar to the values on the Schedule K-1 I received for 2020.

Then I had TurboTax print the pages required for filing this return to a pdf file.  Just as with my 2020 return, the values from the fake Schedule K-1 were shown in Form 1040 Schedule 1, Line 22 and Form 1040 Schedule D, Line 12 for the 2019 return.

TurboTax also prepared a Schedule E, Page 2 for the fake trust with the only entry on Schedule E being a line in Part III with the trust’s Name and its EIN.

There were no pages in the material that TurboTax prepared for filing this fake 2019 return that purported to be a “Federal K-1 Trust” form.

[Ray in Bowie]

The "form not ready" issue is usually a software sync issue with the IRS.
I haven't filed the trust return that I need to file nor the personal return for the trust's beneficiary, but I may this week.
If so, I'll circle back here.

[tagteam]

Note that Schedule K-1 (1041) has changed from 2019 to 2020 (see screenshots).

[rudolfhg]

I have the same issue

form 1041 estate/trusts not available. it's been that way for months and I have 4 beneficiaries waiting for K-1's. When will this be resolved?

[rudolfhg]

If you go to IRS forms you can download a 2020 K-1. Do you think we can force it in TurboTx and distribute the k-1s?

[Anonymous]

It was resolved quite some time ago. 

Your software needs an update.  Go into the "Online" menu and check for updates.

If it doesn't update, you may need to uninstall and reinstall (be sure to save a copy of your tax data first!!) and then update from the clean copy, sometimes that just works better. 

There have been a number of reports of issues getting the program to update for some users, but that's the problem.  The program has had the form for about a month, but the update apparently didn't prompt for you. 

[rudolfhg]

Hi Annajoe803,

I applied your fixes, now starting a new return from scratch, but the Estate 1041 part is missing. It won't allow me to enter her date of death in 2019?