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Self employed
bradwill, Have you resolved this problem yet? I have met the same problem and I believe that the IL-1065 Schedule B has a bug. If you look at the Forms, the number shown in the Section B Column E of Schedule B does not follow Fed instructions at https://www2.illinois.gov/rev/forms/incometax/Documents/currentyear/business/partnership/IL-1065-INS... In page 19 of the instructions, you can see a Column E Worksheet. This worksheet tells us that the first step is to enter the share of income from Form IL-1065, or Form IL-1120-ST, Line 14 for this partner or shareholder. This means that it will not include in the worksheet the retirement (401k or traditional IRA) dollars in Line 11 of Form IL-1065 (or form IL-1065 p1). Therefore if TurboTax result has included the retirement dollars in Line 11, or anything between Line 7 and Line 13, of Form IL-1065 (or form IL-1065 p1), the TurboTax software must have started with entering the share of income from Form IL-1065, or Form IL-1120-ST, Line 7 for this partner or shareholder. I figured this out after I found that the difference between the wrong and right results is exactly equal to my traditional IRA number in Line 11 of the form IL-1065 p1. I tried to contact TurboTax support by phone and by Twitter today. So far I have not received any response yet.
March 2, 2020
9:23 PM