LLC Members Didn't Transfer from Last Year

Forum|Forum|6 years ago
February 2, 2020
4 replies
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Turbo Tax Business then asks me to fill in my membership and profit percentage of shares. I then try to add member number 2 and it states that I have to disclose that there has been a membership change in 2019 - only problem is, there hasn't been. I have the three K9s from last year that were exported by Turbo Tax Business, is this a glitch? I tried reimporting my info from last year, twice.

TurboTax Business Windows

TGSAuthor

I manually adjusted in the K9.

Carl11_2

Employee

Understand that if you change anything in forms mode, not only does that invalidate the 100% Accuracy Guarantee, chances are also extremely high that you will not be able to e-file the return either. You will have no choice but to print, sign and mail the return to the IRS. If a state business return is required, then the same will hold true for that one too.

Anonymous_

Employee

@TGS wrote:

...is this a glitch? I tried reimporting my info from last year, twice.

It appears to be a glitch in certain instances. There have been several reports of partners/members being dropped when transferring from 2018 1065s to 2019.

The developers are aware that some users are experiencing this issue and are in the process of tracking down whatever is causing the anomaly.

sturkiematt

Does anyone at Intuit have a solution to the LLC members not transferring into the 2019 from the 2018 returns?

Anonymous_

Employee

@sturkiematt wrote:

Does anyone at Intuit have a solution to the LLC members not transferring into the 2019 from the 2018 returns?

The solution (at least the one that has been found to work, generally) is to open the 2018 return in the 2018 version of TurboTax Business, update the program, and then proceed through the return in order to make any changes to partner/member information (or partnership information) that may be erroneous and correct it prior to transferring.

CHC

I'm having the same problem on my two LLC returns. No partner/member information transfers. It will let me add one, but when I try to add the second partner/member it says I have to check that there has been a change of ownership WHICH HAS NOT OCCURED!!!

I've been using TurboTax for years and never had this problem before. I cannot prepare the two returns with this "blockade". The program is worthless to me without a solution.

Anonymous_

Employee

@CHC

You need to check the 2019 return that you transferred to 2020.

Almost every user who has had this issue has been able to track it down to an input (or other) error in their 2019 return.

BSpoke

2022 and this is still an issue for 2021 returns.

I too have updated my 2020 return, checked for any discrepancies, and saved under a different name. Then created a new return for 2021 using the new 2020 file. It still only has one member and will not let me add the second without saying there's been a change in ownership (there hasn't). I'm currently on hold with someone from TT but he even seems to be confused about what I am saying. I don't know how this continues to be an issue with Turbo Tax, dating back to at least 2018 from what I can tell. Has anyone found any other solutions?

Pri3st13

I had the same issue and it frustrated me to no end. I have called. Chatted. Googled. You name it. No results. After inspecting my last year's return (2021 for 2020) super extensively. I noticed me and my partners k1s were marked final. Apparently at some point I checked that box. Must of been thinking it meant final form and ready to be filed. Well it means that's the final K1 the member will receive from the LLC. I hadn't marked the 1065 final but did the k1s. Once I discovered that, I had to do more digging to find out if I needed to amend last years. But I was told by several different tax sources that I just continue filing as if it wasn't my final K1. But I was still stuck with the issue of transferring members. And realized that had to of been why. So I went in to last year's ttb and unmarked the k1 final. Saved it. Then it imported perfectly after that. Not sure if this will solve anyone else's issues. But figured I'd share my experience of why mine did that. Best of luck. Tax season is so frustrating at times.