Form 1065 for multi member LLC

[mr smee]

I have an amount showing on  line14C (non-farm income) on only one member K-1 form and there is no justification for it. No members had any income in 2021 so where did this $ amount come from and how can I correct it?

[tagteam]

Are you using TurboTax Business?

Check your K-1 Worksheet in Forms Mode.

[mr smee]

I went to the K-1 worksheet but the only way to eliminate the problem was to check the limited box and uncheck the general and PR boxes that were checked next to the contribution area. I'm not totally sure if that is the correct step to take but it eliminated the amount on the K-1 sheet. I can't find any description for those boxes. If I checked the general box on all members, they all showed the same amount on line C. If all have the limited box checked then none showed the amount on line C. Do you have any more description on those boxes? Thanks for the help.

[Rick19744]

I recommend you just complete the return based on how it should be filed.

Don't worry about the K-1 box 14C reporting.

Many software packages report this and it will only be used by those that need the information.

This is informational only for those that would file as a farmer.

This is a gross income reporting figure, not a net income amount.