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K1 question-/ What's Wrong . Turbo says " Enter your liability Share : Nonrecourse " . it is 0.000125 percent, but Turbo says this is an "invalid number "....

 
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LeeM
New Member

K1 question-/ What's Wrong . Turbo says " Enter your liability Share : Nonrecourse " . it is 0.000125 percent, but Turbo says this is an "invalid number "....

The IRS requires that there be whole numbers only. 

I would just enter 1.

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7 Replies
LeeM
New Member

K1 question-/ What's Wrong . Turbo says " Enter your liability Share : Nonrecourse " . it is 0.000125 percent, but Turbo says this is an "invalid number "....

The IRS requires that there be whole numbers only. 

I would just enter 1.

K1 question-/ What's Wrong . Turbo says " Enter your liability Share : Nonrecourse " . it is 0.000125 percent, but Turbo says this is an "invalid number "....

Answer incorrect/invalid as i have already entered  0.00##% for other K-1 holdings
LeeM
New Member

K1 question-/ What's Wrong . Turbo says " Enter your liability Share : Nonrecourse " . it is 0.000125 percent, but Turbo says this is an "invalid number "....

Have you tried 0.001%   That is a very large decimal percentage unless the company has a large amount of non recourse debt and/or shareholders.

K1 question-/ What's Wrong . Turbo says " Enter your liability Share : Nonrecourse " . it is 0.000125 percent, but Turbo says this is an "invalid number "....

tried but still "invalid number". yet 0.002406% was accepted by TTx for another K-1
LeeM
New Member

K1 question-/ What's Wrong . Turbo says " Enter your liability Share : Nonrecourse " . it is 0.000125 percent, but Turbo says this is an "invalid number "....

The smallest number TurboTax will accept for non-recourse debt percentage is .01

K1 question-/ What's Wrong . Turbo says " Enter your liability Share : Nonrecourse " . it is 0.000125 percent, but Turbo says this is an "invalid number "....

i apologize  my question was incorrect
LeeM
New Member

K1 question-/ What's Wrong . Turbo says " Enter your liability Share : Nonrecourse " . it is 0.000125 percent, but Turbo says this is an "invalid number "....

Not a problem. Did you get it to work for you?
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