There is what appears to be a possible bug/error in the computation for Net Income in Form 1065, Schedule M-1 that is new to the 2022 edition of Turbotax. SEP-IRA contributions are incorrectly included as an expense, thus lowering the Net Income for the business. In this case, the business is a partnership with no employees. The source for the incorrect value is Line-1 on Page-5 of Form-1065 which (per IRS instructions) instructs that Net Income should be the sum of Schedule K, Lines 1-22, less the sum of lines 12 - 13d (and line 21). The SEP-IRA contribution is Line-13R & should not be included. Previous Editions of TurboTax-Business performed this computation correctly.
Any advice or suggestions are appreciated
