Federal Review Error Form 3468

[rs97229]

Some TurboTax customers may be experiencing an error because TurboTax is showing an error in review stating that basis for coal/gasification is missing when a Partnership Schedule K-1 with Box 20 Code AG is entered.

We’re currently working to resolve this issue. If you’d like to receive progress updates, sign up here.   @DeeDD 

I clicked on the "singup here" and it worked.

Thanks

RS

[taramyers16]

Have they notified you of a fix yet? I'm getting really pissed it's taking so long. I've been technically done with our taxes for weeks now..

[rs97229]

Hello Taramyers16

                                            No notification yet on the purported fix for the 4368 form inclusion in K1 for box 20 from TT. I had to temporarily strike off the AZ code (Box 20) of K1 and the associated amount from my file and this is clean with no errors.  It didnt make a difference to tax due with or without the AZ amount in my case. I am waiting to see if they will  fix the box 20 issue 100% . 

TT is accountable for the SW bug. Let us pray and hope for the best

Thanks

RS

[Ferdinand_M]

Last post was yesterday. I have still the same issue today. I have several K-1's with significant financial impact on my taxes. I therefore must have a resolution to this very serious issue.

By the way, I still cannot get the link providing updates to work. Any idea how to make it work?

Thanks,

[ajmalinoski]

Any update on this issue?  I am still unable to e-file because of form 3468.

[rs97229]

Still no updates or email from TT on the erroneous Box 20 (Form 3468) linkage issue with K1.  I fully empathize with the many customers (myself included) wanting to file and get over with the tax headache but the pain seems to linger. Less than 4 weeks to go. Will post something as soon as. The link for notification updates does not work and is broken.  Sorry for not providing anything concrete except for some philosophical encouragement to stay positive.

Thanks

RS

[KWELL24]

2 weeks later and I am also getting this 3468 error, it cannot be deleted and if I remove the details from box 20 my tax bill goes up. Did Turbo Tax reply and tell you when they anticipate a fix for this error?

[CatinaT1]

The recent update on March 14, 2024, resolved the errors with Box 20 Code AJ. If you are using TurboTax Online, the updates are automatic. If you're using TurboTax for Desktop, go to Online in the TurboTax header and click on View Updates. Click the + sign beside Program updates to see the most recent release. You can also Check for Updates under the Online topic to be sure you have the most recent release.

Since the information from Code AG/AJ will be used only if your net losses from all businesses are more than $289,000 ($578,000 if filing a joint return), you have the option to omit the code and the amount(s) from Schedule K-1.

You may need to delete Form 3468 if it remains in your return. 

• How do I view and delete forms in TurboTax Online?
• How do I delete a tax form in the TurboTax CD/Download software?

[mytax54330]

form 3468 asks

1. description of the facility

2a. IRS issued number for the facility

is this a TURBO TAX error ???

Please help

[dmbrew]

The same thing happens with me with in the K-1 Box 20 with Z and ZZ. Does your answer also apply to this?

[KWELL24]

What about Code Y, Z and ZZ?? What is the timeline to fix these errors of creating form 3468? 

[KWELL24]

I wrestled with my rtn late last night and Z and ZZ codes were also erroring and creating form 3468 issues for me. So, no, as of last night those codes are not resolved by TT. 

[GELewis]

Just received this from Intuit:

Dear TurboTax customer,

We appreciate your continued patience as we tirelessly work on solving your issue.

We'll email you when we've developed a fix.

Thank you for being a TurboTax customer.

Sincerely,

TurboTax

[Gilgamesch]

Sure hope they can fix this. I was online with a Tubotax rep.  for over an hour this morning trying to fix the problem. I got a call a little later from a person who said they had a work around but unfortunately I wasn't home. They said they would call me back around noon when I was home but sadly they never called. Very frustrating.

[Gilgamesch]

I am getting the Z error message when I try and file my return. It says amount for line 20Z not entered on form 199A and I checked and I did enter an amount for line 20Z. I have used Turbotax online for years and have not had problems like this. Very disappointed in Turbotax right now.