Question

K-1, Part 111, line 1. Ordinary business income (loss) red flags

Forum|Forum|2 years ago
February 17, 2024
2 replies
0 views

I am getting the "need to check red highlights". I placed general costs not specific to a particular 8825 property on the 1065 form. I believe correctly and properly. The general activities 1065 activities are" materially participated" while the specific buildings are not.

I am comfortable with letting the red flags fly, and file with them. ( I will reluctantly wait for the updated K-1).

Any drawbacks with TT program ? With IRS processing?

TurboTax Home & Biz Windows

A

Anonymous_

Wait until the update is released - 2/21/2024

W

WilHen02Author

Always pleasant to talk with an optimist.

PatriciaV

You cannot e-file a return with form errors. TurboTax Business may provide more information on the reason for the error using Forms Mode.

Click the Errors icon above the forms list to open a footer with a description of the error. It's possible the number is in the wrong format or that it overrides a calculated number. You must resolve the error in order to e-file your return. Otherwise, it has to be filed by mail.

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