topic Re: 1065 Amounts not pulling from worksheets in Business & farm

1065 Amounts not pulling from worksheets

RBFC — Thu, 04 Mar 2021 22:41:16 GMT

I have entered all amounts on the "Step by Step" portion but when I go the actual 1065 form, all the amount fields are blank. Do I have to manually enter all these? That cannot be right! For example all of the Income section is BLANK. Thanks

Re: 1065 Amounts not pulling from worksheets

Anonymous_ — Thu, 04 Mar 2021 22:51:01 GMT

Are you entering business income or other types of income?

For example, income from interest, dividends, rental income, capital gain, and the like will appear on Schedule K (page 4) of your 1065.

Re: 1065 Amounts not pulling from worksheets

RBFC — Thu, 04 Mar 2021 22:53:49 GMT

It is rental income from real estate rentals.

Re: 1065 Amounts not pulling from worksheets

RBFC — Thu, 04 Mar 2021 22:57:54 GMT

Oh boy... I had a tax preparer do this last year and everything is on page 1 of the 1065. She messed up all of our returns and it took me the entire year to fix things. I am wondering if last years was filed incorrectly...

Re: 1065 Amounts not pulling from worksheets

Anonymous_ — Thu, 04 Mar 2021 22:58:47 GMT

Enter Forms Mode and look at your 1065 (p4-5). You should see rental income in that section.

Re: 1065 Amounts not pulling from worksheets

Anonymous_ — Thu, 04 Mar 2021 23:05:23 GMT

@RBFC wrote:

Oh boy... I had a tax preparer do this last year and everything is on page 1 of the 1065. She messed up all of our returns and it took me the entire year to fix things. I am wondering if last years was filed incorrectly...

"Oh boy", is right; rental income from real estate really does not belong there unless you are running something on the order of a hotel, bed & breakfast, or the like.

Re: 1065 Amounts not pulling from worksheets

RBFC — Thu, 04 Mar 2021 23:13:49 GMT

Thanks for getting back to me so quickly!!! I am going to file correctly and keep my fingers crossed.

Re: 1065 Amounts not pulling from worksheets

RBFC — Thu, 04 Mar 2021 23:37:33 GMT

If you have a minute.... I have one other issue. On page 3 under "Designation of Partnership Rep" T Tax is forcing me to enter info in the second portion marked "If the PR is an entity..." Not sure why... thx