Skip to main content
May 22, 2021
Question

i have funds showing where should have zero in partnership, s-corp

  • May 22, 2021
  • 1 reply
  • 0 views

can you help me.  I have funds showing up under Partnerships S-Corp.  I do not have any partnerships nor am i a part of a S-Corp.

 

1 reply

VolvoGirl
Employee
May 22, 2021

Is it a K-1?  Did you have one last year?  It may have transferred over and is waiting for you to fill it in.

 

Try deleting it this way.  Go to the K-1 interview section here

Personal

Personal Income

Choose  I'll choose what I work on

Then scroll way down to Business Investment and Estate/Trust Income

Schedule K-1 - Click the Start or Update button

 

If the first screen says "Do you want to review Schedule K-1?". You have to answer yes and then click Update by  the Schedule K-1 type (LLC, S corp, trust). The next screen is the Summary screen listing all of the K-1 entered for that type of entity.  You can review, edit or delete it there.

 

One user found he had to add a fake name first.....

I figured out that I had to actually start fixing this problem by entering a fake K-1 name to the TurboTax request and then going back to the "Update the Schedule K-1" and deleting the fake K-1 name.