Federal Review Error Form 3468

Forum|Forum|2 years ago
March 7, 2024
13 replies
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When I run the Federal Review, I get several messages regarding missing data in Form 3468. The form is labeled "Investment Credit" and begins by asking for a "Description of the Facility" followed by the "IRS issued registration number for the facility." None of this seems applies to my taxes. Is this an error within TurboTax?

Best answer by PatriciaV

I tried deleting it without success. I keeps coming back asking for information. there must be a way to permanently delete it so I can e-file.

The incorrect identification of Box 20 Code AG/AJ will be addressed in a forthcoming update. We recommend signing up to be notified when the update is released: Why am I receiving an error in TurboTax for Schedule K-1 Box 20 when code AJ is selected?

However, since this information will be used only if your net losses from all businesses are more than $289,000 ($578,000 if filing a joint return), you have the option to omit the code and the amount(s) from Schedule K-1.

Rusty72

I have the same issue. Form 3468 keeps reappearing after I delete it. Nothing on the form applies and i want to remove it. The form is blank except for my name info. What could be triggering this to happen. I checked 'Do not link to any 3486' on my K1 additional info (Box 20) but that didn't help.

Rusty72

I figured it out. My K-1 had amounts for Box 20 Code AJ. After going back to step-by-step turbo tax there was a new screen asking about box 20 other information and it was placing this value into 'basis in gassification..coal project ' which added form 3468. To fix i changed $ amount in the field above to 0 and entered the amounts at the bottom to other.

ERP45

I have the same problem and I can't figure it out. I have looked over everything, spending hours. This has never happened before so I think it might be a Turbo problem. I am wondering what happens if I delete the form?

GELewisAuthor

I hope it's as simple as removing Form 3468. I'm concerned that if the data from K-1 is triggering Form 3468, is it triggering something else we're not aware of? The last thing I want to do is send in my forms and they trigger an audit. Don't need that headache!

I have reported the issue to Intuit, but have not gotten a response as of yet. I'm hoping they'll release an update that fixes the problem.

ERP45

I tried deleting it without success. I keeps coming back asking for information. there must be a way to permanently delete it so I can e-file.

tpower718

How do I get rid of this form 3468 - it does not apply to my taxes but keeps pushing an error on my return. Can anyone help?

Thanks

jsheldon1

The reply by Turbo Tax Expert is the correct fix to the problem. Just delete the entry on Line 20 code AB, E. Then proceed, and the questions about linking to form 3468 will not appear because there is no form 3468 being generated by the elimination of the offending Line 20 code entry. For some users, when this is done the form and error remains, just delete the form. I have be using TT for decades and I believe it is a program error. The Tax expert indicated is does not affect the return unless you exceed a large business loss (as I am typing this I cannot read her post for the amount). So the easy answer is just delete the entry and all is well. Did this on four K-1's and her advice works and is correct.
Happy Tax Day.

cramanitax

This programming error on TT is so frustrating. I am filing a K-1, Form 1065 for the first time and on line 20 I have codes "AJ" and "Z". Based on the error fixes suggested on TT Community, I removed "AJ" and the amount listed and only have "Z" listed. Then I went into Easy Step and opened form 3468 (no entries whatsoever as others have experienced). I can't see how I can delete form 3468. There's no delete button and the Form doesn't even show up on the left side in Easy Step when I look for it but it's there causing error messages. I am on the phone with TT as I write this and she is unable to figure it out either. WHAT TO DO?? Help.

Rusty72

To delete the form, goto forms mode, open the form and on the bottom of the screen is a delete button.

ravinder bangia

i am getting error regading IRS REGISTRATION NUMBER FOR THE FACITILY IN LIN 2A FORM 3468, I DONOT HAVE THIS, I DONOT KNOW HOW TO GET RID FO THAT

ravinder bangia

I AM GETTING THE MSG FOR IRS REGISTRATION NUMBER IN LINE 2A OF FORM 3468, WHICH I DONOT HAVE THE INFO. IN MY TAXES

GELewisAuthor

I reported the error to Inuit over a week ago. Today I received this response:

Dear TurboTax customer,

Thank you for being patient while we investigate your issue.
Rest assured, we're working tirelessly on a solution and will email you when we have more information.
Thank you for being a TurboTax customer.

Sincerely,

TurboTax

This is getting ridiculous!

ajmalinoski

Any update on this issue? I am still unable to e-file because of form 3468.

rs97229

Still no updates or email from TT on the erroneous Box 20 (Form 3468) linkage issue with K1. I fully empathize with the many customers (myself included) wanting to file and get over with the tax headache but the pain seems to linger. Less than 4 weeks to go. Will post something as soon as. The link for notification updates does not work and is broken. Sorry for not providing anything concrete except for some philosophical encouragement to stay positive.

Thanks

KWELL24

2 weeks later and I am also getting this 3468 error, it cannot be deleted and if I remove the details from box 20 my tax bill goes up. Did Turbo Tax reply and tell you when they anticipate a fix for this error?

mytax54330

form 3468 asks

1. description of the facility

2a. IRS issued number for the facility

is this a TURBO TAX error ???

Please help