I switched from TurboTax to FreeTaxUSA last year specifically because of K-1 issues. FreeTaxUSA handles K-1 entries much more intuitively and puts everything on the right schedules automatically. TurboTax is notorious for hiding the K-1 entry screens unless you know exactly where to look, and their support staff often give contradictory advice as you've discovered. With FreeTaxUSA, it's all clearly labeled and you can see exactly where your K-1 items are flowing on your return.

As someone who's dealt with this exact situation, I can confirm what others are saying - partnership K-1 income must go on Schedule E, Part II, never on Schedule C. The confusion happens because TurboTax Self-Employed is really designed for sole proprietors, not partnership members. Here's what worked for me: First, upgrade to TurboTax Premier if you're still on Self-Employed - it has much better K-1 support. Then go to Federal > Income & Expenses > Less Common Income > Partnership/S-Corp K-1. This will properly flow everything to Schedule E. The key is understanding that Schedule C is only for businesses you personally own and operate. Since you're a member of an LLC partnership, you're not operating the business directly - you're receiving your share of the partnership's income/loss through the K-1, which is why it goes on Schedule E. For your amended return, make sure to remove any partnership income that might have been incorrectly reported on Schedule C to avoid double-counting. The IRS is very particular about this distinction, so getting it right now will save you headaches later.

Does anyone know if the "reasonable period" for winding up trust affairs is affected by whether the trust is revocable vs. irrevocable? My mother's irrevocable trust was terminated in December but we just found out about some stock that wasn't properly transferred and is still generating dividends.

I went through something very similar with my grandmother's trust last year. The key thing to understand is that the "reasonable period" mentioned in 26 CFR § 1.641(b) is specifically designed for situations like yours where income trickles in after the formal termination date. Your trustee is correct - the trust is still considered to exist for tax purposes during this winding-up period. The $4,600 in dividends should be reported on an amended final Form 1041 for the trust, not on your individual returns. The trustee will then need to issue supplemental K-1s to you and your siblings showing your respective shares of this additional income, which you'll report on your personal returns. The fact that the bank statement arrived months later is actually pretty common - I've seen this happen with everything from dividend payments to final interest statements. As long as the trustee is actively working to wrap up all loose ends (which discovering and reporting this income demonstrates), you're well within the reasonable timeframe. One tip: make sure the amended return clearly indicates it's for post-termination income to avoid any IRS confusion about the filing.

I'm in a similar situation - filed my extension return via mail in early May and still waiting on my refund. Reading through these experiences is both reassuring and nerve-wracking! It sounds like 4-6 months is becoming the new normal for paper returns. Has anyone had success checking their transcript through the IRS online account to get more detailed status info? I'm wondering if that shows anything beyond what the Where's My Refund tool displays. Also curious if anyone knows whether the IRS sends any kind of acknowledgment that they've actually received your mailed return, or if you just have to wait and hope it didn't get lost in the mail. The waiting game is definitely stressful when you're counting on that money!

Yes, checking your transcript through your IRS online account can definitely provide more detailed information than the Where's My Refund tool! The transcript will show if your return has been received and is in the system, plus any processing codes that might indicate what stage it's at or if there are any issues. Unfortunately, the IRS doesn't send any acknowledgment for mailed returns - they only do that for certified mail. So you really are just waiting and hoping it didn't get lost, which I know is super stressful. The transcript is your best bet to confirm they actually have it. One thing that might give you some peace of mind: if your return was going to be lost in the mail, you'd typically know by now since most mail issues happen within the first few weeks. The fact that you're just waiting likely means it's sitting in their processing queue, which is unfortunately massive right now. Hang in there - the 4-6 month timeline others mentioned seems to be pretty accurate based on what I'm seeing in the community lately.

Don't overthink this! The IRS isn't going to come after small-time bloggers about QBI classification. They have bigger fish to fry.

I've been dealing with this exact issue for my personal finance blog. After extensive research and consulting with my CPA, here's what I've learned: The critical factor is whether your blog's revenue depends on your personal reputation and skill, or on the platform/audience itself. For most successful blogs, even if you write all the content, the primary asset is actually the audience and the platform you've built. Consider this test: If you sold your blog tomorrow, what would the buyer be purchasing? If it's primarily the domain, audience, revenue streams, and content library rather than access to YOU personally, then you're likely not an SSTB. For my finance blog, even though I create content about financial topics, I'm not providing personalized financial advice or services. I'm creating general educational content and monetizing through ads, affiliates, and course sales. The IRS guidance suggests this falls outside the SSTB definition. One thing I'd add to your analysis - document your reasoning thoroughly. Keep records of your revenue sources, business model, and how your blog operates independently of your daily involvement. This documentation will be crucial if you're ever questioned about your QBI position. The 21% corporate rate is interesting, but remember you'll still face double taxation when you eventually distribute profits. For most bloggers, the QBI deduction on pass-through income is still more beneficial.

Has anyone used TurboTax Business to handle their final S-corp return when dissolving? I'm trying to decide if I should use software or hire someone for this final filing. Not sure if the standard software handles dissolution scenarios properly.

I went through this exact process last year when I dissolved my S-corp. For Line 10 on Form 966, you need the date when you formally adopted the resolution to dissolve the corporation. Even as a sole shareholder, you should create a simple written resolution stating your decision to dissolve the S-corp and date it. That's the date that goes on Line 10. Here's a basic template I used: "I, [Your Name], as the sole shareholder and director of [Corporation Name], hereby resolve to dissolve this corporation effective [Date]." Sign it, date it, and keep it with your corporate records. One thing to watch out for - make sure you coordinate the timing with your state filing requirements. Some states want you to file dissolution paperwork with them before submitting Form 966 to the IRS, while others are more flexible. Check your state's specific requirements to avoid any complications.