Schedule K-1 (Form 1120-S) Box 13 Code AF

kjtax
kjtax Member Posts: 2 Newcomer
in Filing my taxes

Does FreeTaxUSA support Code AF in box 13 of the S-Corp K-1 form 1120-S? It's not listed in the dropdown as an option. My understanding is that it's similar to the AE code that is listed.

If it's not supported are there any suggestions for reporting this code using FreeTaxUSA? For example, could I go into a forms mode and manually enter this in? It would be disappointing to have to use another product just to enter this in.

Thanks in advance!

https://i.imgur.com/CXyGbxP.png

IRS description of code AF.

https://imgur.com/quGoxt2

Source: https://www.irs.gov/pub/irs-pdf/i1120ssk.pdf#page=13

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Answers

  • domkm
    domkm Member Posts: 2 Newcomer

    I have this same issue. Did you find a solution?

  • kjtax
    kjtax Member Posts: 2 Newcomer

    Hi @domkm, I still don't have a solution. I'm hoping that someone from FreeTaxUSA will weigh in soon but If I don't hear back, I'll have to switch to another tax filing product to claim the $500 auto-enrollment credit.

  • domkm
    domkm Member Posts: 2 Newcomer

    @kjtax I chatted with support and they couldn't resolve this. My plan is to use code AE, print instead of efiling, edit the E to an F, and mail that in.

  • CoryF
    CoryF FreeTaxUSA Agent Posts: 168

    Thank you for the detail to accompany the question.

    We don't recommend any workarounds in the reporting of this Schedule K-1 Box 13 Code AF if it is not supported by FreeTaxUSA software.

    Our software is self preparation, and you have the ability to make a decision based on your research.

    The best advice is to find a Tax preparation software that allows you to report the right code with the right effect on the 2024 tax return.

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