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New Member
posted Mar 17, 2025 9:01:40 PM

How come the Turbo Tax Business program does not calculate entry K-1, line 13, coded V section 743 (b) negative adjustment?

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1 Replies
Expert Alumni
Mar 18, 2025 10:47:42 AM

When you enter an amount for Schedule K Line 13(e) Code V, TurboTax will allocate the total to all partners according to their profit percentage unless you set up a special allocation code. The Section 743(b) income adjustment is not calculated by TurboTax. This adjustment is based on the details from the sale of a partnership interest.