Business & farm

The bug still exists.

 

There's a new 2021 version of the Partner's Instructions for Schedule K-1 (Form 1065) available and it confirms what's been true for years now: the correct amount to be reported on Schedule E, line 28, column (k), as required by the Partner's Instructions, is Ordinary business income from Schedule K-1, line 1. TurboTax instead is still incorrectly taking the amount from line 14. In the case of this partner, if I had not caught it, TurboTax would have cost this partner more than $3000 in taxes that were not due.

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