Question

I cannot transfer last year partnership K1 since I inadvertently checked "final" on 2022 K1. How do I correct other than filing amended return?

Forum|Forum|2 years ago
March 17, 2024
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TurboTax Online

in Turbotax go back and uncheck 2022 was final. this would be ok unless you did something else like closing out partners capital accounts. then an amended 1065 is in order. if not unmarking "final" should allow transfer to 2023.

Even after marking a return as final if you file another it will reactivate the partnership. you would have to amend last year's return (and possibly the 1040s) if there were entries that have to be undone. just unmarking the box as final you don't have to amend, just start filing again

H

hero2Author

Thank you everyone in community for your help. I tried calling Turbotax directly but they will not support me since I bought my software from someone other than Intuit. Things have changed but everyone in Community, thank you; appreciate your help/support.