Sorry for the long subject line. I am using TurboTax business to file partnership taxes.
TL;DR How am I supposed to input an employer, profit sharing contribution so that it is not deducted (subtracted) from Net Income (Form 1065 Schedule M-1 and Form 1065 Page 6 Analysis of Net Income Line 1).
We made employer profit-sharing contributions to a 401K. TurboTax registers this (correctly) as a Line 13e contribution coded R. However, when it comes to Form 1065 page 6 Analysis of Net Income (see also Schedule M-1 Reconciliation of Income per Books, TurboTax is subtracting (deducting) the profit sharing contribution from Net income (the form instructions state that the value in line 1 subtracts Schedule K lines 12 through 13e). The TurboTax and online literature seems confident that subtracting the profit sharing 401K contribution is incorrect. However, I cannot get my Schedule K to reconcile because of this problem. Gemini tells me that there is supposed to be a box in Step-by-Step that I can check indicating the contribution is from the Partnership which would tell the software not to include this in Net income even though it appears on line 13e. However, I have seen no such box. I could manually override Line 1 of the Analysis of Net Income on page 6, but Copilot tells me that if I manually override box 1 on the page 6 Analysis of Net Income, either TT or the government will reject my electronic filing because the numbers will not total correctly.
