1065 form Analysis of Net Income (Loss) per Return: Partner Type Auto Generates as Limited Instead of General

[zanderk24]

I'm using TurboTax business desktop version for my 2-member LLC with 2 general members, no limited members. Section K Analysis of Net Income (Loss) per Return on Form 1065 lists all of our income(loss) on limited partners b(ii). instead of general partners a(ii). Our k-1s and k1 worksheet are showing correctly. I've attached screenshots of the problem.

Any way to fix this error? I've seen a few threads from the past 4 years with this same issue and I hope there's been a fix for it.

 

[zanderk24]

Nevermind, I found the answer for anyone who visits this thread in the future.

The IRS Instructions for 1065 Analysis of Net Income (Loss) per Return states "Report all amounts for LLC members on the line for limited partners." So even if you are a general partner and it says that on your k-1, you still put the total income(loss) under "limited partners".