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

shah123
shah123 Member Posts: 6 Newcomer
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: 57 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 Newcomer
    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

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