PatriciaV
Expert Alumni

Business & farm

Yes, there is a work-around, as there is no ready solution within the main interview.

 

According to the On-Demand Guidance within TurboTax Business for the Designation of Partner Representative (right click on PR Name at the bottom of Form 1065 p1-3) --

 

To designate a partnership representative, either complete Part V of the Partnership Information Worksheet and check the Partnership Representative (PR) box OR check the "PR" (Partnership Representative) box for a partner on the Schedule K-1 Worksheet.

 

Note: If the partnership representative is an entity, complete the information for the individual that the partnership designates to act on the entity's behalf.

 

Because you prepare Schedule K-1 for at least one trust, you cannot opt out of the Centralized Partnership Audit Regime (Form 1065 p1-3 Line 29), which could resolve the situation.

 

Instead, open Forms Mode and confirm that the two forms mentioned above (Partnership Information Worksheet and Schedule K-1 Worksheet) contain the correct information. 

 

The PR checkbox on Schedule K-1 Worksheet is in the right-hand column under the Profit/Loss percentages as "Check applicable boxes:"

 

On the Information Worksheet, Part V, confirm that there is no SSN under the Member's information. Both the Partner and PR boxes must be checked.

 

Do not return to the Step-by-Step section for Partner/Member Information in case this action is resetting your entries. Save your return. Close, reopen, and run Federal Review again.

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