Schedule K-1 Form 1065 for Publicly Traded Partnership Not Supported?

shah123
shah123 Member Posts: 6 Level 2
in General

I entered all of my tax forms in FreeTaxUSA, every one of them except the Schedule K1, which I finally got recently and the moment I started entering it, as soon as I selected that it is for a publicly traded partnership (PTP), FreeTaxUSA said, we do not support publicly traded partnerships. Bummer!

I was able to continue to enter the rest of the form, but I am seeing that some of the codes for some of the boxes are not present. Maybe it is because of not supporting the publicly traded partnerships. It's a bummer! I specifically looked for the support of Schedule K1 before I started, and since it was supported, that's why I switched to FreeTaxUSA this year. But now I find out that it is not supported for PTPs after going through the pain of entering all the forms.

Is there anything else I can do, Or I have no choice but to go with some other software and enter all the forms again!

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Comments

  • Taylor
    Taylor FreeTaxUSA Agent Posts: 83 image
    Hello shah123,

    I appreciate you writing in to let us know your experience and apologize for the frustration. You are correct that we support Schedule K-1s in general, but we do not support K-1s where Box D is checked for a publicly traded partnership. These have specific reporting requirements and forms that our software does not currently support.

    We hope to include PTPs in the future, and we hope to see you back when we do.
  • shah123
    shah123 Member Posts: 6 Level 2
    edited March 18

    Just for someone else being bitten by this, OLT supports it fully and is FREE too.

  • delay527
    delay527 Member Posts: 1 Newcomer

    I will need to find a different provider

  • HPD
    HPD Member Posts: 1 Newcomer

    Same, found out after entering every single of other forms. Hours of data entry in vain.

  • Austyn
    Austyn FreeTaxUSA Agent Posts: 39 image
    Hello,

    Thank you all for sharing your feedback. We genuinely understand how frustrating it is to invest time entering your tax information only to discover a limitation at the end of the process, and we're sorry for that experience.

    Your feedback about PTP support is valuable, and we do pass along customer requests to our development team. We hope to expand our Schedule K-1 support to include publicly traded partnerships in a future tax year.

    We're sorry we weren't able to fully meet your needs this year, and we hope you'll consider giving FreeTaxUSA another look in the future.
  • JZTax
    JZTax Member Posts: 1 Newcomer

    I am so wildly disappointed and frustrated to learn that FreeTaxUSA can't handle my Schedule K-1 form (relating to holding Energy Transfer stock, inherited 2025) because it's a PTP (publicly-traded partnership). I have already manually entered every other form required for 2026. This is a nightmare.

    I've used FreeTaxUSA since at least 2020 for my federal, resident, AND nonresident tax returns, but NEVER AGAIN will I rely on this business. You've lost my business permanently.

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