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.

Show previous replies

ChrisG2021

I am having the same issue. Turbo Tax problems again!

RAH51

I am having same issue. When will this be resolved? Filing deadline is fast approaching!

motero999

I am still receiving an error that the data on Form 3468 is not complete. I am also not able to delete the form like another user suggested. Any other ideas?

wu1667wu

Yes! My 3468 form was generated (we think) from code ZZ on my numerous k-1’s. Spent 5, yes 5 hours on phone with TT. They want me to go thru all the k-1s, take out the ZZ info in box 20, then go to tax tools and delete the forms 3468. Didn’t do it yet but I’ll try tomorrow and let you know. Fingers crossed.

310 solar tax Credit arizona

We can stop TurboTax from generating form 3468 by changing "Basis in gasification Property in advanced coal Project" to $0. Go to line 20 of your K-1 dropdown menu of the entries look for "Gasification update..." select it and enter $0. This will generate the form it will ask you again to enter $0 then it will ask if you would like to attach this form answer NO. This will take care of the error when there is no credit on gasification.