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March 12, 2020
Question

How do I get the Turbo Tax question about a K1 from Compass Diversified to go away? I have no transactions in 2019 from this company, have had none for 3 years.

  • March 12, 2020
  • 1 reply
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1 reply

March 12, 2020

You can delete the K-1 by following these steps:

 

TurboTax Online

  1. Click on Federal > Income & Expenses
  2. Under S-corps, Partnerships, and Trusts click on the Revisit box next to Schedule K-1.
  3. On the Tell Us About Your Schedules K-1 screen.  Click on the Start/Update box next to Partnerships/LLCs (Form 1065). 
  4. You will see the Partnership/LLC K-1 Summary screen.  Click  Delete next to the K-1.

 

TurboTax Online

  1. Click Federal taxes > Wages & Income
  2. Under Business Items click the Start/Update box next to Schedules K-1/Q.
  3. Click Yes on the next screen, Schedules K-1 or Q. 
  4. On the Tell Us About Your Schedules K-1 screen.  Click on the Start/Update box next to Partnerships/LLCs (Form 1065). 
  5. You will see the Partnership/LLC K-1 Summary screen.  Click  Delete next to the K-1.