Adding Shareholder....

Forum|Forum|6 years ago
February 15, 2020
2 replies
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When listing shareholder information, we have 2 shareholders, my wife and I. When adding the information for the 2nd person the program is telling me there had to be a change of ownership to add a second person. This always worked in the past. It's a 50 / 50 split. If I say only one person, the program tells me my percentage is 100 % and I can't change it. I've been using Turbo Tax for Business for 8 years and this is the 1st time this is happening. HELP!!!

TurboTax Business Windows

Best answer by Anonymous_

@Sunron wrote:
If I start a new tax and do not transfer my 2018 info will it work?

Yes, it will certainly work but, of course, you have to take the time to re-enter everything (business/shareholder information, carryovers, assets, etc.). The problems are (a) the issue does not appear to be affecting all users and, (b) there is currently no date set for a fix.

Anonymous_

Employee

I presume you transferred your 2018 return into the 2019 version of TurboTax Business. Unfortunately, some users have experienced an issue when doing so in that one (or more) shareholders, partners, members are dropped (i.e., they do not get transferred to the 2019 program).

The developers are aware that the issue presents itself for some users and are working to rectify the problem.

SunronAuthor

Yes, I transferred my 2018 data and it will not allow a 2nd Shareholder as it thinks I sold the business. When do you think the software engineers will get to this. My Tax is due March 15th.

If I start a new tax and do not transfer my 2018 info will it work? I don't want to start over only to find I wasted my time.

Anonymous_Answer

Employee

@Sunron wrote:
If I start a new tax and do not transfer my 2018 info will it work?

darkmatterprops

I too am experiencing the same issue when importing 2022 tax info for 2023 taxes. I know we didn't check that box saying a shareholder was leaving so the program is glitching somehow.