Noncovered Securities imported into TurboTax with my 1099 which I think go on a Schedule K-1. Should I just delete them and wait on my K1 or submit on the 1099?

Forum|Forum|1 year ago
February 24, 2025
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I'm not sure why TurboTax would have included those transactions? Seems like a possible bug in the software or are you allowed to submit with all transactions on the 1099 section?

ThomasM125

I think you mean that you have gains or losses from investment sales reported on a K-1 Schedule and also reported on a Form 1099-B. If so, you shouldn't report them twice. The best thing is to report the sales on the Form 1099-B entry as the IRS will be more likely to notice them missing there. The K-1 and Form 1099-B entries are totally different and neither one of them would be done by TurboTax without you directing the upload. So, it wouldn't seem to be a bug in the software.

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