schedule k-1 PTP

craff
craff Member Posts: 1 Newcomer
edited April 2025 in Filing my taxes

I bought a stock through robinhood without knowing it is PTP k-1.

And, it is Publicly traded partnership (PTP).

So, freetaxUSA refuses to file my tax.

Questions:

  1. i haven't sold the stock yet, but received the schedule k-1. do i need to include it in my current tax?
  2. Anyway to get around such as using a different software? what is it?
  3. or, i can do ammendment after filing it? using excel , what to compute?

thanks

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Answers

  • DaFriendship
    DaFriendship Member Posts: 1 Newcomer

    I'd love to see this supported too. Even though H&R Block doesn't fully support K1 PTPs, it lets you still enter most of the info (then fill in the rest VIA the form). Would love to see FTUSA support this feature since it's not that uncommon.

  • CoryF
    CoryF FreeTaxUSA Agent Posts: 231 image

    Thank you joining our community

    We do look to add more supported forms each year. We have made this a point to communicate to our developers about adding the Partnership Schedule K-1 from Publicly Traded Partnerships (PTP). At this time, we do ask that you use another tax preparation service to report the Schedule K-1 income on your tax return.

  • shah123
    shah123 Member Posts: 6 Newcomer

    I got bitten by this for 2025 taxes. I entered all the forms and everything, since I received those early. I always receive K-1 late. I finally received it now. Went to add the information, and what do I know. It says PTPs are not supported. What? I went through the pain of entering all the information. Done with taxes except for K-1 and now it is saying use some other software!!!

    The experience with FreeTaxUSA was awesome, this totally ruined it. Please add the support as soon as possible.

  • kiarab
    kiarab FreeTaxUSA Agent Posts: 250 image
    edited March 19

    Hello again everyone,

    I can understand the frustration of filling out your information only to discover that we don't support a certain item. As we said previously, we increase the amount of situations we support each year and take into consideration what is requested.

    I'd recommend that you contact customer support directly before starting to file to see if something is supported. You can also see what forms we support here, but it does not mean that we always support every single item in the form. You can confirm with customer support if you are concerned about a particular section or line. https://www.freetaxusa.com/forms/

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