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I filed w FreeTax last year but was not allowed to E-file for form 8990

Sweetang

I filed w FreeTax last year but was not allowed to E-file .I had to mail it in .This was a big problem .I had Some K-1's and FreeTax instructions on how to fill it out were either incomplete or hard to follow . Than saying I had " Excess Business Interest ".I needed to add form 8990 .That was an unbelievable complicated document .Which FT USA did not support . I had an accountant look at FreeTax instructions and told me That form 8990 was not needed .As the Business Interest I had was minuscule and that form was meant for large Business Interest that was more actual Owners of a Corporation /Companies . Questions 1) Do you think FTUSA will be more informative on the K-1's 2) If have to file 8990 will FTUSA help or support even if we have to pay extra for instructions .Thk You AA

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rachels

Hi sweetang,

We do not have a way to override that alert in your account. If you enter any amounts in your Schedule K-1 (even if it is a very small amount) that would trigger the need to file Form 8990, you will not be able to e-file using our software. You would instead need to mail your return. This would be triggered on a Partnership Schedule K-1 with an entry in Box 13 with code K.

Our developers are still working on our 2023 software at this time, so I am unsure whether or not Form 8990 will be supported next year. You can check our supported forms page in January to see if Form 8990 is listed as a form we file:

https://www.freetaxusa.com/forms-federal

rachels

Hi sweetang,

You're very welcome! Most FreeTaxUSA customers are able to e-file with Schedule K-1s. It is just those rare circumstances (like with the alert to file Form 8990) that prevent e-filing with a K-1.

All comments

rachels

Hello sweetang,

I am sorry that you had a frustrating experience with this last year. K-1's can be tricky. Our software supports most K-1 income, but there are certain situations where you need to prepare a separate form to send with your mailed tax return (like your 8990).

Customer Support is happy to help you with K-1 questions you have in your account, though if our software does not support a specific form, they will not be able to provide specific assistance for an unsupported form.
We do have the Pro Support option available if you need tax advice, though our Pro agents can only assist you with forms that our software supports. You would still need to prepare Form 8990 independently.

Sweetang

Hi Rachels ,Thank you so much for answering so fast . I think my biggest question was "the CPA's said ,(At least two ) that I did Not need the 8990 . . So if FreeTaxUSA did not block or force me to mail my Taxes by giving "Correct Info not mentioning 8990 " I could have E-Filed ? Its a very complicated Form (instructions )even though it was only 3 pages to fill in . Being ..If true … my Taxes were excepted by IRS ..I did not have to use 8990 .IS there a way to E-File with FTUSA by using a override or asking a agent (once using Pro) to somehow over ride or by pass that command "Must Mail In " if further investigation reveals' that "8990" is really not needed ? And are you saying that Next Year 2023 FTUSA will still not support "8990" . Thank you so much AA

rachels

Hi sweetang,

https://www.freetaxusa.com/forms-federal

Sweetang

Hi Rachels , Its really nice of you to answer my questions so fast . I will follow your instructions and look back in Jan 2024 for the 8990 . FYI : 1 or 2 years at least I was able to e-file with K-1's , but there was no notice to use a 8990 .All the best and thanks again , you've been really helpful .

My family & I are sure to be loyal filers for a long time here at FTUSA AA

rachels

Hi sweetang,

You're very welcome! Most FreeTaxUSA customers are able to e-file with Schedule K-1s. It is just those rare circumstances (like with the alert to file Form 8990) that prevent e-filing with a K-1.

Star66

Hello, I just filed my taxes today 4/8/24 and I have to go through the pain of mailing my return. This is a real hassle for a measly amount of Excess Business Interest reported on K-1, Box 13, Code K. I spent more time to figure out how the heck to complete Form 8990 than the worth of the EBI. Obviously, I do not need to complete an 8990; but I am going to send it in to the IRS anyway. Free Tax should have at least clued me as to why I had to fill it out. It would have saved me some headache. I have been a customer for a long time and have always loved Free Tax because their software is very user-friendly especially for a tech challenged person like me. Thank you.

Bruce314

Star66 and Sweetang,

I have the same issue with my K-1 forms. Did you just ignore form 8990 when you filed and if so, for how much? Sounds like for a relatively few dollars. In my case, one K-1 out of 5 has EBI of $443 and checking my tax return from last year (that an accountant prepared) I have a carry over of $123 from one of the K-1s that this year did not list any excess business expense. For a few bucks of EBI I'm okay with ignoring it, maybe not for $443.

Star66, since you have worked through this and it sounds like my documents are the same type as yours that triggered this form, do you have any insights to guide me? I'm not even sure you will get notified of this post as I'm new to FreetaxUSA. The rest of the program is great but it's annoying they don't do a better job supporting K-1 forms.