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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1 Best answer
LeeM
New Member
Jun 7, 2019 4:05:01 PM
The IRS requires that there be whole numbers only.
I would just enter 1.
7 Replies
LeeM
New Member
Jun 7, 2019 4:05:01 PM
The IRS requires that there be whole numbers only.
I would just enter 1.
carolerosepina
New Member
Jun 7, 2019 4:05:02 PM
Answer incorrect/invalid as i have already entered 0.00##% for other K-1 holdings
LeeM
New Member
Jun 7, 2019 4:05:08 PM
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.
carolerosepina
New Member
Jun 7, 2019 4:05:09 PM
tried but still "invalid number". yet 0.002406% was accepted by TTx for another K-1
LeeM
New Member
Jun 7, 2019 4:05:11 PM
The smallest number TurboTax will accept for non-recourse debt percentage is .01