PatriciaV
Expert Alumni

Business & farm

The message regarding "gasification" comes from an entry from Box 20 Code AJ or Box 17 Code AG, depending on the type of K-1 you have entered. 

 

Here's a work-around for 1120S Schedule K-1 that should resolve the error and allow you to delete Form 3468 (if needed):

 

In the Schedule K-1 interview, choose Box 17 Code ZZ instead of AG. Continue until you see "Enter Other Information Detail." Enter two lines: Label one line "AG - Aggregate Business Income" with the number from Box 17 additional information and the second "AG - Aggregate Business Deductions" (usually a negative number).

 

Your entries appear on the K-1 worksheet under Box 17 Code AJ to ZZ Line 6.

 

If you are using TurboTax for Desktop and can use Forms Mode:

Check K-1 S-Corp for this entity. Make sure there are no entries for Form 3468 under Box 13 Credits.

 

Then delete Form 3468 if it is still on the forms list.

 

You can use the same work-around for a 1065 K-1 with Box 20 Code AJ.

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