Question

My 2021 TurboTax Business software is not transferring my 2020 LLC's partnership ownership data correctly. Is there a fix?

Forum|Forum|4 years ago
February 15, 2022
1 reply
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I've gone into the 2020 to update TurboTax and re-save the ownership data already. Didn't work.

TurboTax Online

Employee

Did you check your 2020 return to ensure a member was not deleted and the return (including K-1s) was not marked as final?

There have been a number of reports centering around this issue. Some have been resolved by the method described above while others have found they needed to enter member/partner information from scratch.

T

tkielkopfAuthor

Yes, I went back in. Re-saved the old file to an alternative name. Same issue.

I ended up having to re-create new members, then manually going in to the forms to insert the correct starting and ending ownership information.

X

xocy

I'm having the same problem and the only solution so far is to act as though it is a new business. I think some of this problem is the change to 1099 NEC from 1099 Misc. It is really poor customer service that Turbo Tax has not addressed this.