ksb2
Level 2

Investors & landlords

Statement A is typically attached with the K-1 form either as a separate attachment, or included and described in the notes accompanying the K-1 form.  Further the amounts are broken down in K-1 item 20, which are included in the other parts of the K-1.  Within item 20, you will find an item labeled SMTS, which is further broken down into separate items, described within the Statement A or the footnotes.  

 

What typically causes errors within Turbotax, at least in the past has been where multiple values are shown in boxes 1, 2 and 3.    Where this occurs, the multiple K-1s forms must be completed to avoid the error message.  I see where Turbotax  now asks a question about this, and possibly handles this situation to avoid generating an error message.  However, as I did not have any K-1 of this type, this year, I am not certain how Turbotax handles this situation and generates the separate K-1s automatically. If this is the cause of your error message, contact Turbotax support, directly, to solve it.  There will be additional supporting information that must be completed to overcome the error message. 

 

If you do a search on my previous postings, from last year, you will find specific information on how to complete the additional information required to correct and complete the information needed to resolve the error message issue.

 

Hope this information is helpful.

Karl