K-1 Schedule 1065

[PKT1]

It now March 20, 2024 and there still appears to be a continuing glitch in TT. Our K-1 (Schedule 1065) is NOT in the oil and gas sector and I keep getting directed to the “gasification” and “coal” aspects of the worksheets. Have spent over 4 hours with two experts who cannot help. One suggested I file an extension. I have been using TT for about ten years. When can we expect a resolution? 

[PatriciaV]

Does your Form 1065 Schedule K-1 report Box 20 Code AJ? There have been recent TurboTax updates that addressed the issue you mention. But they may not resolve issues with K-1s that were entered before the updates were released.

Please follow these steps:

1. Go to the Schedule K-1 Summary page (search on k-1 and click the "jump-to" link).
2. Delete the K-1 with Box 20 Code AJ.
3. Delete Form 3468 (see links below for instructions).
4. Run Review/SmartCheck to confirm the error has been resolved.
5. Re-enter the K-1.

Additional Information:

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

[PKT1]

Thank you for your rapid reply. No, the code AJ is not in Box 20. There are other codes. 

[PatriciaV]

Please clarify which other codes appear in Box 20.

[PKT1]

The codes in Box 20 are A, B, ZZ.

thank you for your help! 

[PKT1]

The codes in box 20 are: A, B, and ZZ

Grateful for any help getting this resolved!

[PatriciaV]

The gasification error message is generally related to entries from Schedule K-1 Box 20 Code AJ. However, other boxes and codes could be causing this message. A recent update should have resolved this issue, but it may not apply to an existing K-1.

Have you tried deleting the K-1 and Form 3468? Run SmartCheck again after you do to be sure the error message has been resolved. Then re-enter the K-1. 

@PKT1