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Level 3
posted Dec 21, 2019 5:52:37 PM

Unsupported partnership calculations in TurboTax

Per this official PDF (https://digitalasset.intuit.com/DOCUMENT/A6WxbxPQd/120319-2019-unsupported-calcs-L1FQfTTgn.pdf) on page 9 it lists 

 

1) Partnership Loss, Self-Employment Income, Passive Activity Losses, and At-Risk
Limitations: If you have partnership losses subject to passive activity loss limitations or at-risk
limitations, the program does not automatically make adjustments to self-employment income. You
must enter any applicable adjustments on the Schedule SE Adjustments Worksheet.

 

and

 

4) Income/Deductions/Credit Not on K-1: The program does not automatically flow through the tax
return any specific income, deduction or credit items that are not identified on the K-1 worksheets or
included as part of the TurboTax Interview.

 

I'm not sure I understand either of the above.  If anyone knowledge about the above could provide an illustrative example, I'd really appreciate it!

 

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1 Replies
Level 2
Dec 21, 2019 6:56:34 PM

TT doesn't deal with those screwy K-1s partners get with all kinds of crazy entries. Forms view is the solution to that, so you can make adjustments directly on the work sheets and forms. If the TT work sheet doesn't cover the entry there's a place on the sheet to place it like other, but you have to know what you're doing and K-1s can be complicated.