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How to fix the error for Schedule k-1 (form 1065), Box 13, Code G
How to fix the error for Schedule k-1 (form 1065), Box 13, Code G? TurboTax won't let me e-file Federal/State taxes unless this error is fixed. On my K-1, Box 13, I have Code G (100%) Contribution and Charitable amount of $600. When I tried to e-file, I got the following error message. "Box 13 Code G is not supported for Qualified Conservation Contributions or any other 100% charitable deduction. The program allows for up to 60% of income for cash contributions or 50% for non-cash contributions."
How do I fix this error and proceed with the e-file? Should I change the code to A (60% Cash Contribution)? Should I leave Box 13 blank/unchecked and add the $600 amount to Charity Donation under the Deductibles section? But in either case, if I made the change, what I reported to the IRS would be different from the Schedule K-1 that I received from the accountant. Does anyone know how to fix this error? Thank you.
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‎April 14, 2024
11:16 PM