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Remove S corporation error

I do not have a S corporation but TurboTax insists I do and asks for a name. I need to delete anything to do with this non existent S corporation! 

 

I found the following instructions:

 

To remove your erroneous S corporation:

1.  Click Federal Taxes across the top.

2.  Click Wages & Income across the top.

3.  Click I’ll choose what I work on.

4.  Scroll down to Business Items.

5.  Click Start or Update by Schedules K-1, Q.

Click Start or Update by S corporations (Form 1120S).

 

Currently my screen shows 'update' at the "S corporations (Form 1120S)" line, but this does not delete/remove the entry. How do I remove it?

 

Thanks.

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1 Best answer

Accepted Solutions

Remove S corporation error

Go to the K-1 entry area

If the first screen says "Do you want to review Schedule K-1?". You have to answer yes and then click Update by  the Schedule K-1 type (LLC, S corp, trust). The next screen is the Summary screen listing all of the K-1 entered for that type of entity.  You can review, edit or delete it there.

 

One user found he had to add a fake name first.....

I figured out that I had to actually start fixing this problem by entering a fake K-1 name to the TurboTax request and then going back to the "Update the Schedule K-1" and deleting the fake K-1 name.  

View solution in original post

4 Replies

Remove S corporation error

Feedback for others in my situation:

 

I spoke to TurboTax support agent. She was very knowledgeable but could find no way to get rid of that nonexistent S Corp entry. The form it referred to (I think 1020) did not exist to be deleted but TT continued to believe I had an S Corp. So the only remaining option was to redo my taxes. :( 

 

Remove S corporation error

Go to the K-1 entry area

If the first screen says "Do you want to review Schedule K-1?". You have to answer yes and then click Update by  the Schedule K-1 type (LLC, S corp, trust). The next screen is the Summary screen listing all of the K-1 entered for that type of entity.  You can review, edit or delete it there.

 

One user found he had to add a fake name first.....

I figured out that I had to actually start fixing this problem by entering a fake K-1 name to the TurboTax request and then going back to the "Update the Schedule K-1" and deleting the fake K-1 name.  

Remove S corporation error

Tried the suggested solution of enteing a fake corporation name.  It worked for the Federal return but not for the State (CA) return.

Remove S corporation error

I would delete the California return and then add California once the Schedule E is removed from the federal return.

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