topic K-1, Part 111, line 1. Ordinary business income (loss) red flags in Business & farm

K-1, Part 111, line 1. Ordinary business income (loss) red flags

WilHen02 — Tue, 10 Feb 2026 11:28:05 GMT

I am getting the "need to check red highlights". I placed general costs not specific to a particular 8825 property on the 1065 form. I believe correctly and properly. The general activities 1065 activities are" materially participated" while the specific buildings are not.

I am comfortable with letting the red flags fly, and file with them. ( I will reluctantly wait for the updated K-1).

Any drawbacks with TT program ? With IRS processing?

Re: K-1, Part 111, line 1. Ordinary business income (loss) red flags

Anonymous_ — Sat, 17 Feb 2024 14:36:28 GMT

Wait until the update is released - 2/21/2024

Re: K-1, Part 111, line 1. Ordinary business income (loss) red flags

PatriciaV — Sat, 17 Feb 2024 14:37:36 GMT

You cannot e-file a return with form errors. TurboTax Business may provide more information on the reason for the error using Forms Mode.

Click the Errors icon above the forms list to open a footer with a description of the error. It's possible the number is in the wrong format or that it overrides a calculated number. You must resolve the error in order to e-file your return. Otherwise, it has to be filed by mail.

Re: K-1, Part 111, line 1. Ordinary business income (loss) red flags

WilHen02 — Sat, 17 Feb 2024 14:43:23 GMT

Always pleasant to talk with an optimist.