K-1, Part 111, line 1. Ordinary business income (loss) red flags

[WilHen02]

I am getting the "need to check red highlights". I placed general costs not specific to a particular 8825 property on the 1065 form. I believe correctly and properly. The general activities 1065 activities are" materially participated" while the specific buildings are not.

I am comfortable with letting the red flags fly, and file with them. ( I will reluctantly wait for the updated K-1).

Any drawbacks with TT program ? With IRS processing?

[Anonymous_]

Wait until the update is released - 2/21/2024

[PatriciaV]

You cannot e-file a return with form errors. TurboTax Business may provide more information on the reason for the error using Forms Mode. 

Click the Errors icon above the forms list to open a footer with a description of the error. It's possible the number is in the wrong format or that it overrides a calculated number. You must resolve the error in order to e-file your return. Otherwise, it has to be filed by mail.

See also: How do I manually fill out my tax forms in TurboTax Desktop?

[WilHen02]

Always pleasant to talk with an optimist.