Transferring shareholder info from last years taxes

Forum|Forum|3 years ago
March 16, 2023
1 reply
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In just starting out, I transferred last years taxes to this years taxes. At the shareholder section, it asks you to input each shareholder's info. After entering the first shareholder, you have to check the box that there was a "change in ownership" to include any other shareholders.

Does TT not recognize the quantity of shareholders from the transferred tax file? OR is this asking for any changes in ownership? So if there were no changes, we should NOT enter any shareholder info. In may case, I had two shareholders that has not changed.

TurboTax Business Windows

smallcoman2Author

Seems this is a bug. No matter what I check in terms of shareholder changes, TT forces me to add shareholder information and state that an ownership change occurred in 2022. I did not have this issue last year (using TT and QB, as I have for many years).

You will be forced to input shares (assume for the K-1) and a date (must be in 2022) for the change in ownership. I just kept things the same as last year and took notes so that if the IRS asks why I said a change occurred that didn't seem to change things, I can say that it was a TT bug that has been around for many years (according to this discussion board).