Hi, I am doing a business return form 1065 for Holding Company. My books have 3 owner contributions. I have a Holding Company with 2 partner contributions (each having Profit percentage 50%) which produces 2 schedule K-1. Then I have a Holding company contribution to Subsidiary LLC, I put this in as partnership contribution with Profit percentage as 0% in Holding company return.
This shows an error for Sch K Reconciliation Report (Line K-1 K3). There are no percentages present even though percentages were entered, I cannot enter percentages in the error screen either. How do I fix this problem?
Please help?
