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Investing
Yes. I was able to get a hold of 2 different tax preparers on the 14th. We went through every combination but couldn't get it to accept a negative number. It does say in the step by step that the number in line 2 must be a positive number, which doesn't make sense if you have a loss for the business. Neither tax preparer could fix the issue or tell me what I should do differently. Finally, the second tax preparer checked the generated K-1 and all the calculations were correct, so we agreed that I would file it with that error, since it was only on a worksheet.
However, when I went to file it, I then got other errors that I didn't have before. Reviewing the forms I also realized that the accountant who prepared the K-1 sent to us, didn't give us a number to put into line 20 code Z. I called him but he was gone and won't be back until Apr 29th.
I filed for an extension. So, if you'd like to work with me on the line 2 issue, I'd appreciate the insite. Just let me know when and whether you'll call me or I should call you. Anytime around 4 pm or after works for me.
Thank you
‎April 21, 2024
5:33 PM