I entered my Schedule K-1 forms into TurboTax. It states at the bottom: If you have no other items, select Done. I pressed 'Done', and a form comes up that says "Enter S Corporation Name and Address".
What is this, and why do I need to enter it? I already entered all of this info from my K-1's which are LLCs.
could be a bug in the programming. anyway, all LLC's that elect to be taxed as S-Corporations need to file tax return 1120S not 1065 for multimember LLC's
I only have 1065 forms for my K-1, and do not have any S Corporations.
Can I just ignore this section after entering all of my K-1 info?
So I just should not click 'Done' after entering all the K-1s?
And just go to a different section?
Sounds like you started the S-corp section (probably by accident) and you will need to delete the ghost form ...
https://ttlc.intuit.com/questions/2903043-how-do-i-delete-a-k-1
I ran into the exact problem? How did you resolve your issue? I don't have an S Corp and I only have 1065 forms.
could you have clicked on the wrong box the one that say s-corp k-1 rather than partnership k-1.
To enter a K-1 go to
Federal Taxes Tab ( Personal in the H&B versions )
Wages and Income
Choose Explore on my own or I'll choose what to work on (if it comes up)
Then scroll way down to Business Items
S-corps, Partnerships, and Trusts. Schedules K-1, Q - Click the Start or Update button
Be sure to pick the right kind of K-1. There are 3 kinds, 1041, 1065 & 1120S
I'm so sorry...I don't remember how this was resolved. This question was from 2 years ago.
I might have had to delete the form and start over like suggested? But not sure...
I somehow got around it though. Good luck!