Question

Filling in my K1 info and the box is 2020 not 2021 do I need to wait for and update?

Forum|Forum|4 years ago
February 1, 2022
1 reply
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Box 1 of K1 shows last years ordinary income but it's listed under 2019 and wants me to input my info for 2021 under 2020 if this is just a general worksheet thats fine, but if there is an update with changes in tax law for 2021, when is the turbo tax update going to happen?

TurboTax Premier Online

J

JamesG1

Confirm that at the screen Enter Box 1 info for both partnerships and 1120-S, the headings say '2019' and '2020'.

The income appears to flow correctly to Schedule E, Schedule 1 and the Federal 1040. Qualified business income deduction on IRS form 8995 computed correctly.

You may view at Tax Tools / Print Center / Print, save or preview this year's return.

Your 2021 Federal 1040 tax return can be viewed at Tax Tools / Tools / View Tax Summary / Preview my 1040.

Is the income flowing correctly to your Federal 1040 tax return? If the dollars flow correctly, you can still file the tax return.

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