Question

Not able to submit tax return b/c says K-1 section 12 non-cash contributions not ready

Forum|Forum|2 years ago
March 11, 2024
1 reply
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Every day for a month I keep updating turbotax and still cannot submit my tax return b/c Turbotax gives error Sch K-1 Wks-S Corporations Box 12 Code C is currently under devlopment & will be available by March 6th. It is March 11 and still not fixed by Turbotax!! WHEN WILL IT BE FIXED SO I CAN SUBMIT MY TAX RETURN?

PatriciaV

The IRS made significant changes in Schedule K-1 for tax year 2023, adding dozens of new codes for several boxes, including new requirements for Form 8283, Noncash Charitable Contributions, which affect Schedule K- 1 Box 12/13 Code C.

Our programmers have been working to implement those changes for personal returns, connecting the new codes to appropriate Form 1040 lines and forms. Form 8283 is estimated to be ready by March 20, 2024.

Because updates are released after business hours Pacific time, we recommend you wait to update your software the next day, run Review again.

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