Turbotax gives error for K1 NO ENTRY EXIST

Forum|Forum|2 years ago
March 6, 2024
1 reply
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I entered K1 and also onlt box 13 has amount with code AE.

It is investment club K1 so entered as other.

Turbox tax gives error for K1 entry is not made.

PatriciaV

Level 15

Please clarify where you are entering the K-1 information - personal or business return. What did you enter as "other"? When does the error message appear?

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sapraj85Author

Level 2

Personal Return using Turbotax premier.

Since I do not have amount in box 1 to 3 and this is from investment club choose others.

Entered open balance 1000 current year net income -10 and ending capital account 990.

Entered Box 13 amount Code AE and Amount -10 due to loss.

It checks entry and gives message 'We noticed you have a K-1 that has no entries. We need to ask you few more question to get right on on your return'. Again it goes thru same screen. It does not recognize $10 loss entered for box 13. I do not have amount in any other box. Thanks for your help.

PatriciaV

Level 15

Did you work through the entire interview to enter the partnership information and tax id number?

Choosing "Other" for type of activity is correct. You should be able to complete Schedule K-1 with no income and only a portfolio deduction from Box 13 Code AE. But the K-1 information must be complete.

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