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Business & farm
Thank you for the token. We have reviewed your business return and found that no UBIA was allocated to the partners on Statement A. The allocated UBIA will need to be manually entered on Statement A for each partner. You'll need to calculate the allocation yourself before making those entries.
The Ordinary Business Income on Statements A also needs to be updated to match the special allocations entered on the Schedule K-1 Worksheet.
Also note that the Partners' Liabilities Smart Worksheet on Form 1065 p5-6 needs to be allocated to the appropriate partners. This will resolve the form error on the Schedule K Reconciliation worksheet.
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3 weeks ago