Form 1120-S NOT WORKING CORRECTLY ??

[Sopranoplanet]

Just spent an hour going around in circles with Schedule K-1, Form 1120-S.

I have K-1 entries, Line 17, code AJ.

That's kicking up Form 1120-S and wants me to insert thos numbers into a "qual gasification" line, which has nothing  to do with the data.

I should be able to enter the AJ numbers on the "OTHER" line on 1120-S,  but all lines are greyed out and will not accept any input. The only line accepting input is the "qual gasification" line.

Is this form not ready for use?

Anybody?

Thanks.

[PatriciaV]

The information from Schedule K-1 Box 17 Code AJ will be used only if your net losses from all businesses are more than $289,000 ($578,000 if filing a joint return). If this doesn't apply to you, and updating TurboTax doesn't resolve this Review message, you may leave the Box 17 Code AJ box(es) blank.

See also: 

• IRS Instructions for Form 1120S Schedule K-1 Box 17 Code AJ
• IRS Instructions for Form 461 - Limitations on Business Losses

[Sopranoplanet]

Thanks. The 1120-S form is very peculiar in terms of the interface.

Turbo Tax should clean  it up a bit. 

I was able to complete it but not without a TT customer service person, who had to deal with TT programmers to figure it out.

All good now but, as I said, TT should clean it up.