1120S - Error Related to UBIA

Forum|Forum|6 years ago
February 1, 2020
10 replies
115 views

When running error check on my 1120S, I get the following:

Form 1120S p3-5 - 199A Sum Wks (Page 1): UBIA - The total amount is larger than the amount allocated to all Schedule K-1's. Review the K-1 Statement to ensure that the combined K-1 amounts for this item are increased by [amount of UBIA].

I only have one K-1 for this business, and the UBIA is automatically calculated. How do I fix this? If I proceed to file without correcting the error, TT deletes the number from the UBIA field completely.

Thanks for any help.

TurboTax Business Windows

jhipps3844

Level 2

Exact same problem and this is a new issue, so I'm super pissed because I though we were good to go.

M_MarshallAuthor

Level 2

I think I may have found a fix for this error. I switched to forms view, went to Statement A for the K-1 and entered the TT-calculated UBIA into the UBIA field on the Statement. I ran the error check again and it cleared. For some reason the program must not be pulling the UBIA into the Statement for the K-1. I'm crossing my fingers this works.

jgs

Level 2

adding the TT generated UBIA to Statement A worked for me. Thanks!

awarnow

Level 2

I am having this problem too.

Liongirl24

Level 2

Thank you so much for posting this error. I got the same error. Because of you, I fixed mine too!!

Thank you very much:)

mtsuser

Level 2

I ran into this issue on my 2021 Scorp return, I tried to understand this issue however could not locate issue. In any circumstance what I did to resolve is during the step-by-step questions regarding QBI adjustments fields, I just put the same number in adjustment fields that was shown, and it solved the problem.