For explanation purposes, I will use $150,000 as the 1065 line 22 amount. We have three partners. When I check the individual K1-199A Supplement forms, each form has the amount $50,000 listed as QBI code Z. The activity is listed as "1065 Line 22." This appears correct, as the 1065 line 22 amount should be divided by 3 in order to equally allocate to each partner. Because this is the only QBI for the Company, the "Total" for QBI code Z is also $50,000 for each partner. These numbers are correctly indicated on the K1-199A Supplement forms. So far, so good...
The problem is with the 199A Summary Worksheet. The only entry on this form is in the "Total Amounts by Activity" table. In the first line of this table, under the "Activity" column is listed "1065 Line 22". The amount listed under column "QBI code Z" is $150,000. This is the only entry, so the Total for the "QBI code Z" is also $150,000. This information appears to be correct. It also is the total of the amounts on each of the K1 - 199A Supplements. Again, so far so good.
When I run the error check to verify that the return is ready to file, one error occurs. The error is with the 199A Summary Worksheet. The error message indicates: "Form 1065 p4-5 - 199A Sum Wks: Activity total: QBI tot exceeds the sum of totals from all copies of the Schedule K-1 - 199A Supplement by 2. Adjust Schedule K-1 amounts as necessary"
However, the amount of $150,000 shown under QBI Total is exactly the sum of the three individual K-1 Supplements which are $50,000 each. Is this a bug in Turbo Tax, or am I missing something? Turbo Tax will not allow me to e-file while this error is present.
I am having the same problem. has this been answered or fixed?
This is how they get us to pay the upgrade for their "Expert". Last time I upgraded, I was told my problem was an "error in the software" and no - they would not refund the money I paid for the expert to be told it was an error on their end. It's a total freaking JOKE!
I have a similar error, "UBIA tot is less than the sum of totals from all copies of the Schedule K-1 - 199A"
I called TT on the phone and the help I received was great. Looks like the numbers didn't match because of rounding in the individual forms. We went back in and changed a couple of the values +/-$1 in the individual K-1s and that solved the problem. What keyed us in on the problem was my excel numbers for totals didn't match TT and this was due to the rounding. In the final 199A form for the LLC, the total was not the sum of the individual K-1s due to this rounding (odd number total with even number of K-1s resulted in values not adding up to the total by +/-$1)
Where did you go exactly to make those changes? And did this have an effect on your balancing sheet totals?
I adjusted one of the K1 Supplement forms to account for the rounding error and the K1 Summary Worksheet error is gone.
I found other instances in the TT where the data imported from Quickbooks resulted in rounding difference compered to TT. I corrected those in a similar manner: increase a deduction, etc. by +/-1 in order to get the totals to match.
A bit frustrating that two software applications written by Intuit are not able to work together without issue. Also a bit frustrating that TT cannot handle something as simple as rounding. This problem has cost be hours of frustration and added work. Intuit definitely needs to improve there test cases...
By the way, thank you for posting the solution wirzbrothers!
@wirzbrothers Thank you so much for sharing your solution - it worked for our filings as well! 😃
I think this may apply to your situation and it is being worked on now. Click on the sign-up link to be notified of updates. https://ttlc.intuit.com/replies/7157729