K-1 question - TurboTax asked for more info but has conflicting Code references - see below pic

[tex_max]

[tagteam]

This actually appears to be a programming error which affects only the text (i.e., a programmer typed "H" instead of "E"). You can ignore that erroneous reference.

[tex_max]

Thank you.

I believe TurboTax is terrible at K-1's. Love the rest of their platform but the few K-1's I have take me a ton of time to reconcile. See below. I didn't even fill out the Form 1116 (TurboTax does that) but somehow I'm supposed to reconcile information that doesn't match. 

Furthermore, TurboTax asked me to fill out multiple K-1's (even though I only receive one) when you get multiple codes like f1 and f2 in Box 16. I get complex K-1's from publicly traded partnerships like Blackstone and Oaktree Financial. And TurboTax is just awful at handling these - especially the reconciliation at the end.

[tagteam]

---

@tex_max wrote:

I believe TurboTax is terrible at K-1's.

I agree, but it is not entirely the fault of TurboTax; the ridiculously complex tax code and regulations in this area are also blameworthy as are the folks who chose to organize as those types of entities (e.g., MLPs). 

Years ago, while discussing investments with a broker/friend of mine, I told him I would never invest in anything that would get me a K-1. After a long, long time, I have put Blackstone on my watchlist.