1065 schedule K-1 box 14

Forum|Forum|5 years ago
October 14, 2020
4 replies
32 views

In years past, ordinary business loss designated in box 1 of schedule K of form 1065 was repeated, as the exact same negative number, in box 14 a, coming from line 22 of the first page of form 1065. For some reason, in 2019, the negative number in box 1 of schedule K , indicating ordinary business loss, is not repeated in box 14a, but is replaced by a higher positive number which seems to dramatically increase my tax burden. I have no idea where that number is coming from.

TurboTax Business Windows

Best answer by Anonymous_

You need to check your entire return (1065) and pay particular attention as to whether you (intentionally or inadvertently) entered guaranteed payments to one or more partners.

Anonymous_Answer

Level 15

You need to check your entire return (1065) and pay particular attention as to whether you (intentionally or inadvertently) entered guaranteed payments to one or more partners.

roperAuthor

Level 2

Thanks for your reply. No guaranteed payments on line 4 of schedule K. Actually, very few entries on schedule K. A negative number in box 1, a positive number in box 2, fairly small numbers in 13 a, 17 a and 18 C. But again, that very large positive number in 14a which, again, in years past, has been the same negative number from line 1. Any other ideas?