smart check keeps flagging that my schedule K is attached. I have not received one but didn't think I needed one. how do i get passed it to file my taxes?

[JamesG1]

There are three different kinds of K-1’s that can be entered into TurboTax software.

• Partnerships/LLCs (form 1065)
• S corporations (form 1120S)
• Estates and trusts (form 1041)

Please follow these steps to review whether a K-1 entry has been started on your tax return. 

The entry can be deleted by clicking the trashcan delete button to the right of the entry at the Summary screen.

• Down the left side of the screen, click on Federal.
• Across the top of the screen, click on Income & expenses.
• Under Your income and expenses, scroll down to Schedule K-1 and click Edit/Add to the right.
• At the screen Tell us about your Schedule K-1, you tell the software which Schedule K-1 you received.

[LoriF1]

Last year when I entered my schedule K-1 information, I was asked about the Partner's Capital Account Analysis and I entered the information.  That information printed on my Schedule K-1 form (1065) and matched the statement I received.

This year when I entered my schedule K-1 information, I was not asked about the Partner's Capital Account Analysis.  Now when the Schedule K-1 form (1065) prints, the numbers do not match the Schedule K-1 I received in the mail. 

I compared the screens I entered from last year to this year and Turbo Tax is not presenting the same screens so the Partner's Capital Account Analysis is not getting collected this year. Did this change this year?   

[PatriciaV]

TurboTax allows you to update your Capital Account Information during the Schedule K-1 interview process. You'll find this under Federal Income & Expenses >> S-corps, Partnerships, and Trusts.

After choosing what type of partner you are, you should see three pages (entries are optional)k:

1. Percentage of Your Share
2. Liability Share
3. Capital Account Information

[LoriF1]

Thank you for your answer.  However, these 3 pages do not come up when I filled out my K-1.  They came up for me last year when I did my Schedule K-1 but not this year.

I was wondering why they are not coming up for me.  I'm not sure if I'm answering something wrong.  

1. Percentage of Your Share
2. Liability Share
3. Capital Account Information

[RobertB4444]

@LoriF1  You answered those questions last year so the program has your answers stored and doesn't think you need to change them.  Delete the K-1 and re-enter it and you can re-visit all of those questions.