I loaned money to my business, have mortgage balance, and have credit card balance listed as liabilities. However, I am getting an error that the program will not allocate recourse debt to LLC members. I did not list any recourse debt but the form states over $100,000 as a value for beginning and ending liabilities. How is the values for recourse calculated since I did not put any values for recourse debt?
You'll need to sign in or create an account to connect with an expert.
call their help line.....sounds like a program bug
Will do. thank you
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
tonyfisher89
New Member
mseahancox
New Member
crestonegsp
New Member
twfox25
Level 2
clowmanagement
Returning Member