how do i make TT understand a non passive loss on k1 is NOT an error.

Forum|Forum|3 years ago
April 18, 2023
1 reply
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Help please ! I have a little plain vanilla K1 from USO (there must be millions of people like me) . my K1 has....

box 11 I* $-121 OTHER INCOME

(instructions say to combine with box 13 to see if you have nonpassive loss or income and report on schedule E line 28)

Box 13 W $57. OTHER DEDUCTIONS. TRADER EXPENSES

i can see that Turbo Tax did (on schedule E pg 2) add the 2 amts to a total loss $178 and deduct it from from my k1 income

BUT TT continues to give me an ERROR and keeps taking me to the the entry of the $57 on the USO k1 statement. is this a bug?

can i e file the returns with this "error" in it?

Best answer by AliciaP1

You need to identify the form the code W amount applies to. The screen immediately after you enter the code and dollar amount should look like this:

@tuxedorose

@DeVille63

DeVille63

Level 2

I had the same error, I ended up deleting the form and starting over again (2 or 3 times). I noticed that if I entered the sign (+ or -) wrong, I would get stuck in this error loop.

tuxedoroseAuthor

Level 5

i tried several differnt times , using + and -, in other words a possitve loss, a negative income, etc but cant get the error to go away. the final calculations are correct though. i guess its a bug in TT