Hi
I put cash advances that I expect to be paid back from the LLC into Other Liabilities in 2020. TurboTax coded it as Recourse. This year I put in the new amounts and again it puts the amount in Recourse next to prior year. This time I get an error message: "The program will not allocate recourse debt to LLC members. Either reclassify the debt as nonrecourse or enter special allocation code to indicate how the amount should be allocated."
1) How do I tell if I put a code in the prior year?
2) How do I move to non recourse debt? If I move, do I leave prior year as is?
Thank you
