The K-1 generated from my S-Corp has totals at the bottom that are 2X of expected. In 2021 this total was not on the K-1. Is this an error in the K-1 generation?

[JamesG1]

"The K-1 generated from my S-Corp has totals at the bottom that are 2X of expected."

Are you referring to Part III of IRS Schedule K-1 (Form 1120-S)?  What boxes report the income that you are concerned about?  What codes are listed (if any)?

Please clarify.

@jonesland1 

[jonesland1]

Does this picture help?

My actual Grossl income for the S-Corp is $140,165

Why is there a line that has a total of $282,560?

 - $282,560 = 2x $140165 + $2,230 and there no combination of numbers I can find that = $2,230

Is it an error in the form (last year that "Total" line did not exist)?

If it is correct, where does this number come from?

[DaveF1006]

It is really hard to tell without actually looking at the entire return. Can you send us a diagnostic of your return? When you send this, the diagnostic scrubs all of your personal information and will send us a sanitized file without your personal information. Sending us a diagnostic will help pinpoint if there are any issues with the product or pinpoint an error that you may have made.

If you wish to send this, please go to tax tools>tools>share my file with agent. In the process, the program will give you a token number. If you wish to do this, please reply with a token number in this thread.

@jonesland1 

[jonesland1]

Hi Dave F.

I went through the actual return myself and the numbers in the return look correct including the numbers on the actual form K-1. I would like to know if the highlighted total on this generated form (not part of the tax return itself) has an error. Last year this "TOTAL" line did not exist. S now, I am NOT checking to see if TurboTax has a math error, but rather is having this "TOTAL" line on the form an error.

Please refer to the attached pic.

ALSO here is the token number, if needed to help in your investigation: 1093131

 

[DaveF1006]

 This is an edit from an earlier post. Apparently, the print feature of the program is doubling everything that prints out. Also the print preview is being doubled. 

The program itself though does not show the forms being doubled and is reported correctly to the IRS. Do not edit directly on the form like I suggested earlier because this would inflate the number on the printed form.

This issue has been referred to our investigation team and is in the process on getting the .pdf print issue resolved.  Thank you for your patience.

{Edited 03/02/23} 1:36 PM PST} @jonesland1

[jonesland1]

OK, Thanks

[DawnC]

The PDFs should be showing correctly now, without the additional 'Total' line that was doubling the amounts.   @jonesland1   Let us know if you are still experiencing a print issue; thanks!