I'm filing my Joint return with my wife, and Turbotax is asking about info from a K-1 (business we dissolved and filed final return in 2017). Why am I being asked for it?

Forum|Forum|3 years ago
February 6, 2023
1 reply
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I am not required to file any further business taxes since we dissolved our LLC (s corp) in 2018 for tax year 2017. I filed a "final" return then but TurboTax still thinks I have info on a K-1 somewhere.

TurboTax Deluxe Online

DavidD66

You can just ignore it. Next year when you start your return, you can indicate in the interview that you no longer have a K-1 and it won't prompt you about it.

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ktown5280Author

It will not allow me to ignore it. I have completed my taxes and it is still telling me it is waiting on K-1's from a company that I dissolved in 2018. I did not have any K-1's in 2021 or in 2020, so not sure why TurboTax is now preventing me from filing my 2022 taxes. I do not own any businesses or have a stake in any businesses that would justify me needing a K-1. I need to have this question basically just go away, since it does not pertain to my situation.

VolvoGirl

Employee

Try deleting it this way. Go to the K-1 interview section here

Federal

Wages and Income

Then scroll way down to Business Items

Schedules K-1, Q - Click the Start or Update button

If the first screen says "Do you want to review Schedule K-1?". You have to answer yes and then click Update by the Schedule K-1 type (LLC, S corp, trust). The next screen is the Summary screen listing all of the K-1 entered for that type of entity. You can review, edit or delete it there.